According to Finance Magnate article, Binance will be supporting Malta stock exchange’s MSX fintech accelerator program. It also has Thomson Reuters as one of the other supporter. As the name suggests MSX program is geared towards Fintech and crypto startups and support will be in the forms services and facilities like in-house accounting services and payroll, office space, conference rooms, and a training center.The program is specifically targeted towards foreign entrepreneurs as the local talent in terms of entrepreneurs is minuscule.
Malta has been promoting itself as a blockchain-hub by coming out with benign regulatory frameworks. The move has been successful and has attracted foreign companies like Binance to open their offices in Malta. For instance, Binance has opened its office in Malta to provide crypto-fiat trading. This move was a stamp of approval for Malta’s policy as Binance is one of the largest trading venues for cryptocurrencies.
According to a binance spokesperson:
“We moved our operations to Malta precisely because it has demonstrated its progressive approach to supporting and developing the crypto and blockchain industry. Malta is creating a safe and legislated environment for the industry to become reputable, attracting companies like ours and many others. The Malta Stock Exchange reflects these values, providing the infrastructure for entrepreneurs and start-ups to flourish in what is otherwise a highly competitive industry.”