Bittrex to Launch Crypto Exchange in Malta Next Month


#1

US-based cryptocurrency exchange Bittrex is reportedly launching a crypto exchange in Malta at the beginning of next month. Bittrex says the new platform will allow them to list coins “a lot faster.” It will operate within the regulatory framework established by the European Union and the Maltese government.

Bittrex Eyes Malta Launch in October

Bittrex to Launch Crypto Exchange in Malta Next MonthBittrex has confirmed that “it will open a branch in Malta on Oct. 1, as part of its global expansion plans,” the Investor reported on Friday, September 14. Bittrex’s co-founder and CEO, Bill Shihara, said at the Upbit Developer Conference on the South Korean Jeju Island:

We are now planning to launch Bittrex Malta…This will allow us to list tokens a lot faster.

Bittrex to Launch Crypto Exchange in Malta Next Month

Bill Shihara at the Upbit Developer Conference 2018.

The conference is organized by Dunamu Inc., the operator of one of South Korea’s largest crypto exchanges, the Kakao-backed Upbit. Bittrex has a partnership agreement with Upbit that “allows the two exchanges to share the same order book and coin listings, among others,” the news outlet conveyed.

Shihara explained that “the coin listing process will be much easier and faster in Malta,” the publication noted, adding that the exchange “will also not charge fees for listing.”

Bittrex to Launch Crypto Exchange in Malta Next MonthBittrex has already established a subsidiary in Malta as well as an affiliated company, Bittrex International, to manage all of its overseas operations.

Citing that “Bittrex Malta is designed to operate within the regulatory framework established by the European Union and Maltese government,” the exchange wrote:

Every digital asset listed on Bittrex Malta will be available for our international network of partner exchanges to launch (consistent with their local laws).

Bittrex’s Overseas Expansion

The CEO explained that “Working with the government in the US to stay compliant is hard. So it would be very difficult for us to open offices around the world in different countries,” elaborating:

We actually like this partnership model… If we can find great partners like Dunamu, then they can handle a lot of work with local regulations and banks. All we need to do is just help them make their exchanges better.

Bittrex to Launch Crypto Exchange in Malta Next Month

The news outlet noted that Shihara expressed “great satisfaction with the tie-up,” adding that “he seeks to renew the partnership every year, without plans to open a separate Bittrex branch in Korea.”

Bittrex started offering US dollar trading in May but currently has no plans to add other fiat currencies, the publication described. “But we do plan to continue listing more digital currencies that trade against the US dollar.” According to Coinmarketcap, Bittrex now lists 287 coins while Upbit has 273 coins listed.

What do you think of Bittrex opening an exchange in Malta? Let us know in the comments section below.


#2

Bittrex actually sucks. Every time I login fro the same PC, it says IP not recognized and every time I have to approve the IP from the mail I get fro them. If they can’t even fix a small issue like that, I don’t think they deserve so much publicity.


#3

Yes, Bittrex expands its foreign influence, but technical capabilities have not been improved.


#4

nice i love this type of work that help crypto world to boom in the world
many doing well for crypto crypto will never die
always live


#5

In last few months, more than a hundred exchanges ha been launched and some even ran away with the coins of investors. Unless Binance or coinbase declares that they are opening a new branch somewhere, these kinds of news won’t have any positive effect on market.


#6

I do understand that English is not your first language but please at least try to put some commas and dots so that we can understand you clearly. It annoys me sometimes. No offence meant.


#7

There are bad people in the world, but there are also many good people who do good deeds. Everything is interconnected and influenced, even your thoughts can influence someone at the moment.


#8

Of course. That’s why its always said that ‘be positive’.

We just need more good news at the moment.


#9

Yes, who make so many good things for crypto, will never die, he will be remembered always.


#10

Very true. Good news and positive people have a very strong influence on development.


#11

Lets see if we get some good news regarding etf at the end of september or now. Market either will move up or go down, btc maybe reach 5000 if news is not so good.