clashed with securities regulators.
In Malta, Binance plans to open its first fiat-to-cryptocurrency trading pairs, a move that will further cement its status as one of the world’s most popular cryptocurrency exchanges. At present, Binance ranks as the largest trading platform, with a 24-hour trading volume of just under $1.6 billion, according to CoinMarketCap data.
“We are very confident we can announce a banking partnership there soon,” Zhao told Bloomberg. “Malta is very progressive when it comes to crypto and fintech.”
Zhao further told the publication that he had been invited by Malta’s government to review an upcoming bill intended to create a favorable climate for cryptocurrency companies — part of the country’s recent push to attract fintech startups.
“Welcome to #Malta @binance,” Joseph Muscat, the country’s prime minister, tweeted on Friday. “We aim to be the global trailblazers in the regulation of blockchain-based businesses.”
The pivot to Malta is the latest in a flurry of announcements for Binance, who also recently unveiled plans to build a decentralized cryptocurrency exchange (DEX) that will operate alongside its centralized order-book platform.