Following in the footsteps of some of the world’s largest cryptocurrency exchanges, Berlin-based blockchain company, Neufund, announced that it will be opening offices in Malta and establishing a strong presence in the country, joining in Malta’s efforts to further its blockchain ecosystem. According to a statement made by the company, they will be bringing European know-how and a team of highly-skilled, experienced experts in the RegTech and blockchain sectors to the island.
Neufund is a blockchain-based equity fundraising platform that allows companies to raise money by issuing tokens like shares of stock. The company said it was attracted to Malta by the country’s progressive vision of the role FinTech could play across many sectors of the economy, particularly after the Maltese government passed the Distributed Ledger Technology (DLT) Regulation in February, 2018, in an effort to boost its appeal to FinTech ventures looking to relocate to the country.
“Looking at Malta’s vision and progress in creating a complete blockchain ecosystem, we have decided to engage our know-how and offer support in building the blockchain future of this progressive-thinking EU member state. Together with Malta’s government, we want to kick-start the creation of crypto-friendly laws, with Malta’s DLT framework initiative already serving as a great foundation.”
“We are impressed by the work done so far by the Maltese government and its pro-new technology stance. Malta should serve as a model for other countries and regulators. We are excited to contribute in building a strong and stable blockchain ecosystem on Malta.”
Zoe Adamovicz, CEO and Co-Founder, Neufund
Following Malta’s recent passing of the DLT regulation, the island has attracted other crypto giants, including industry leaders Binance and OKEx. These moves are indeed quickly giving rise to such a “blockchain ecosystem.” With the latest addition of Neufund, the Maltese government is hoping to become more acutely associated with the FinTech industry, both to attract wider foreign investment, as well as to reinvent its current banking systems.
Parliamentary Secretary, Silvio Schembri, stated that he was overwhelmingly pleased with the response to this emergent sector in the country.
“We are looking forward to work with Neufund as it diversifies the market of crypto products in Malta, adding its equity fundraising of Neufund Platform on blockchain, thus bridging the gap between the on-chain and off-chain world. We are pleased to be accompanied by companies such as Neufund in becoming the #BlockchainIsland.”
Hon. Silvio Schembri, Parliamentary Secretary for Financial Services, Digital Economy, and Innovation of Malta