The world’s fifth largest cryptocurrency exchange, ZB.com, plans to launch its operations by setting up a new exchange in Malta. The exchange will open an office in a bustling business center in the heart of Malta, at St. Julian’s. So far OKEx, Binance, and DQR have also set up offices on the island.
Silvio Schembri, the Parliamentary Secretary for Digital Economy and Innovation, also tweeted about the announcement. He added that this was another link in the chain for Malta to cement its leading position in the crypto space. It will initially start off as a crypto-to-crypto exchange and eventually move on to offer fiat-to-crypto trading pairs via its new platform based out of Malta.
Co-founder Jimmy Zhao said in his statement that he has been invited on behalf of ZB to Malta by his local partners and met up with the Maltese government to discuss their cryptocurrency exchange operations. Zhao said that Malta is the perhaps the most forward-thinking and progressive nation in crypto, DLT and fintech. He said that they are quite excited to be a part of the Blockchain Island.
While other countries are still somewhat hesitant in the crypto space, Malta is confident after the Virtual Financial Assets Act and two other crypto bills have smoothly sailed through its parliament.
As mentioned in the CCN news report, the soon-to-be launched exchange regularly ranks amongst the five largest cryptocurrency exchanges in terms of its daily trading volume. As per CoinMarketCap, it trades an average of around $400 daily. The proprietary technology behind the exchange also extends its support to several other top-tier exchanges.
ZB.com does not offer any other type of trading assets and is strictly a cryptocurrency exchange. Malta will soon have another feather in its cap with the addition of this new exchange to its crypto space. There are several markets in which these cryptocurrencies can be traded. For instance, traders can exchange virtual currencies against Tether (USDT), Bitcoin (BTC), and QCash (QC).[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]