Binance CEO: “Malta has already become the Blockchain Island”

  • By:Melissa Speigner
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In an interview published today with CoinTelegraph, Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency exchange, described Malta as “the leading place to be” and further commented that the country “has already become the Blockchain Island.”

Binance announced the relocation of their operations to Malta in March, following regulatory and banking issues in their previous base, Japan. Last week, Zhao announced that the company successfully opened a bank account in Malta, opening up the possibility of the integration of fiat currency pairs.

Discussing the company’s move to Malta, Zhao stated:

“We are incorporating in Malta and we have a bank account already, which is very significant. Things are going very well there. We are also in talks with the Malta stock exchange, which is the traditional equity stock exchange, for some collaboration. I can’t release details yet, but I believe certain co-operation will result from that. Things are going very well there.”

Zhao also elaborated on his belief that Malta is well on its way to becoming a hub for cryptocurrency and blockchain ventures, further adding:

“I think since March 23, which is the day I actually announced that we were going to Malta, Malta has already become the blockchain island. It’s become the leading place for work, at least one of the leading places for blockchain companies to go. There’s literally a few dozen companies already establishing there. The government and the regulators are very welcoming, very reasonable, so I think it is already one of the best places to establish.”

Zhao also discussed future plans for Binance, stating:

“We are setting up a fiat-to-crypto exchange in Malta and also in Uganda and, hopefully, in Asia as well. We are setting up fiat exchanges. That’s in progress now. I don’t know exactly when they’ll be up and running, but hopefully, this year.”


Corrieri Cilia is a leading law firm based in Malta specializing in the areas of international business and taxation. If you need advice regarding blockchain, cryptocurrencies, or ICOs, please contact us on [email protected] to find out how we can help you.


Posted in: Cryptocurrency