Binance has become the largest cryptocoin exchange worldwide this year. A daily volume of over 2 billion US dollars is now traded on the platform. In Japan, a licensing procedure by the national financial supervisory authority is currently pending, so Binance wants to secure itself with a move to Malta.
Cryptocoin News: Binance moves to Malta
With the opening of a European office of Binance, the exchange will also be accessible to European banks. In future, this will enable the exchange not only to exchange crypto-to-cryptocoins, but also to buy and sell cryptocoins in Fiat currencies.
Binance could at the same time deal with the pending licensing in Japan and seek to expand the service. In addition to Malta, Gibraltar and the Swiss city of Zug were previously considered possible destinations for Binance in Europe. Malta was finally awarded the contract because it is considered very open to the cryptocoin and blockchain industry.