Top 10 cryptocurrency exchange by daily volume, ZB.com announced their plan to open an office in Malta, the "Blockchain Island".
A Chinese cryptocurrency exchange, ZB.com just announced their plan to set up an operation office in Europe that will be based in Malta. Although not as popular as the other Chinese exchanges, such as Binance and Huobi, ZB.com is constantly on the top 10 cryptocurrency exchange list by daily volume.
As of publishing time, ZB.com is ranked at number 7 on Coinmarketcap with $263,247,451 daily trading volume. CCN reported that the exchange's co-founder, Jimmy Zhao has met with the Maltese government to discuss their new operations office set up in the country. After the meeting, he said that he's impressed with the local government, quoting him, "You quickly realize Malta’s commitment to building and supporting the crypto ecosystem."
Zhao also expressed his confidence that the new office will be able to get up and running very soon, as he said, "Malta is perhaps the world’s most progressive and forward-thinking nation in DLT, crypto, and fintech, and we are very excited to be part of the Blockchain Island. We are confident we will be able to announce our live operations soon."
The Maltese government through the Parliamentary Secretary for Digital Economy and Innovation, Silvio Schembri expressed their excitement about another "blockchain business" coming to the country. Schembri posted on his Twitter a welcome message, while also saying how the country is looking forward to the investment of over 20M in the first 3 years and employment of more than 150 people.
Prior to this, it was reported that Binance invested in the first decentralized bank owned by crypto investors which is planned to open in Malta. Last month, Chepicap also reported the partnership of OKEx with Malta Stock Exchange in building a new trading platform for security tokens, called OKMSX, that will be launched in 2019.
Malta is actively inviting crypto and blockchain businesses to build offices in the country by promoting the government full support of the business. With many governments across Europe are still in "defense mode" towards cryptocurrencies, the European island country is considered as the best place to start off in the expansion efforts to the continent.