AlphaBit Digital Asset Exchange (ABCC) from Singapore recently announced that it is planning to open an office in the Mediterranean island of Malta with the view of strengthening its presence in Europe. ABCC is not the first exchange to plan a set up in Malta. Earlier this year, popular crypto exchanges OKex and Binance also opened their offices in Malta.
The exchange is also going to sponsor the Delta Summit 2018, which is an official blockchain event organized by the government of Malta. The event will be held from October 3 to 5 this year in Malta. It will bring together startups, investors, and companies to promote the sharing of trends and insights and myriad themes that are a part of blockchain technology. The exchange will be participating along with the most prominent organizations in this field at the event to be held at St. Julian.
ABCC gearing up to improve its presence in European countries
ABCC is committed to improving its presence in European countries and beyond. With this move, the company is expecting the creation of new employment as well as opportunities for investment in the island country. The office in Malta will be the first entry of ABCC in the European cryptocurrency world. The company started its operations in April 2018 and as of now is ranked at the 11th spot by trading volume.
The CEO of ABCC Calvin Cheng said, “We are delighted to announce the opening of our first expansion into Europe and our partnership with Delta Summit. Indeed, we look forward to working closely with the Government of Malta and to support its transition into a digital innovation center of excellence.”
Maltese island attracting blockchain and crypto businesses
The Mediterranean island government passed three bills in June this year that regulate the blockchain and crypto sphere. Since the Maltese island has all the legalities in place, it is attracting blockchain and virtual currency businesses from across the world. According to the Junior Minister for Financial Services, Digital Economy and Innovation of Malta, Silvio Schembri since the legal framework of the country is well planned, it can approach the blockchain and cryptocurrency sector with a broader long-term vision.