Bitcoin Forum

Changpeng Zhao, the CEO and founder of Binance, revealed the company has set up a bank account in Malta, in an exclusive interview with Cointelegraph on Wednesday, June 6th.
🗣️Binance is currently the world’s largest crypto exchange with $1.47 bln in trade volume, according to Coinmarketcap data.
The move brings the exchange one step closer to its plans to offer fiat-to-crypto deposits and withdrawals on its platform, a feature that would further improve the exchange’s liquidity and facilitate new investors entering the space with fiat purchases.
CZ told Cointelegraph he hoped fiat-crypto trading (http://rothscoin.com/) on Binance would launch in Malta “within the year,” also indicating plans to offer the service in Uganda and potentially Asia as well.

🗣️More broadly, the CEO reflected on Binance’s progress in Malta, which he affirmed is going “very well,” revealing that the company is also in talks with Malta’s traditional equities stock exchange about a possible future collaboration.
CZ considers that Malta is “one of the best places” for blockchain firms - deserving of its ‘Blockchain Island’ nickname - and praised the “very welcoming and reasonable” stance of local regulators towards the crypto sphere.
CZ said Binance is now working on developing a decentralized exchange, which is currently a big, “high priority” project.

🗣️Just last week, Binance revealed its plans to create a major $1 bln cryptocurrency-based fund to support blockchain and crypto startups, seeking a total of twenty ‘heavyweight‘ partners for the project, each of which is required to have at least $100 mln under asset management.

RTC (http://rothscoin.com/)
RothscoinTeam (http://rothscoin.com/)

I heard it also that they are setting up a bank account in malta.I aslo heard that they want to develope the decentralize exchange. I think its great. Lets see if they are able to do it or not.

This would enable them to directly trade in and out through fiat. This would increase the number and amount of altcoin buyers and can have a boost on cryptocurrency price. It's still to see what payment options would support them.

Good news, Binance will grow their business, decentralized exchanges will grow especially in Malta, this is very good news for crypto lovers, if good news continues, I'm sure cryptocurrency will continue to grow and more investors will join cryptocurrency.

Yeah, it is really good news. Binance is the leader of exchanges and if they move to a crypto-friendly country to set up their business, I am sure it will take the crypto industry to even further progress.

Yup heard this news last week too. I think they have got to do something with crypto to fiat and fiat to crypto exchange. As they progress towards the new module of getting upgraded to this feature they might be needing additional bank accounts. They might be setting up more than this in different countries so that they can talk with the local regulatory body for their fiat to crypto purchases. I think it is really major step by the Binance and thus tells us that it will leave out positive ratings on all of us and former investors too. Many new people will start using the Binanace and thus all the coins will benefit from it too.

Excellent, Binance is a good company, I think that they will succeed and this will allow the market to grow.

What is the function of their bank account later?
Is Binance will support FIAT deposit and FIAT pair Altcoins or Bank account only for their exchange operations?

What Binance has done and what is about doing are all welcome developments. First of all it is going to increase investments in crypto knowing fully well that crypto can be exchange to fiat. Also helping startups to raise funds will boost the global economy of the world.

Binance has always done smart works. That's why it is number one exchange now. What Binance wants to do in Malta will carry its further.

binance is a good platform if not perfect every step they take is in there way good working active team and im happy to hear that they will add decentralized exchange im tired of shitty etherdelta

It’s a great news for crypto market. Malta always showing a positive attitude for crypto. For this reason Maltas people can trade with crypto currency. I think in recent times all countries are accept bitcoin.

That's wonderful.......
Crypto is taking over places. If you have good project, no body or agency and stand as a barrier.

Well, I will tell it is a great and also a big movement by binance. It will help them in many purpose and also will make the fees cheaper.

I don't know what to say about that.This could be good news or bad news!Need to follow.But frankly me this kind of movement not particularly like and I this kind of adding not approve of and fear!

I am very happy with this news, very good because we are lovers of cryptocurrency, this is a sign that binance has a very good marketing in the field of crypto, this will be a positive impact on the rise of token binance prices in the market, we wait for its development.

I am very happy with this news, very good because we are lovers of cryptocurrency, this is a sign that binance has a very good marketing in the field of crypto, this will be a positive impact on the rise of token binance prices in the market, we wait for its development.

   With $1.47 billions in trade volume they can expand their business where ever they wish. If Binance is setting up an account
there, and they plan to expand it means that Malta have great plans for crypto-currencies.
   Great news indeed, I will follow this matter. It will be interesting to see how one of the biggest exchanges setting up a new
offices in Malta, so close to EU, Africa and Asia borders.

More and more investors will now get interest in crypto currency. Buying and selling through Fiat currency is the best way to attract majority of the  investors in Crypto.

Binance is a very good and popular exchange that has many fans around the world. It seems to me that opening an account in Malta is a very smart decision. Now I understand why this is really the best exchange.

Binance is growing little by little. After their last Bermuda move, this one also exciting which should bring fiat to the platform.

Perhaps all these news will make cryptocurrency more accessible to people and large companies

This has been in news since then. Binance is very adaptive and starting to dominate the exchanges.

I think that's the first step that they have to do so that they will be eligible for the 'no tax for crypto profit' law of Malta.

malta is a good place for startup blockchain to developing there. even their leaders fully support the blockchain-based startups who come and build work offices in malta. malta will be the center of future development of blockchain

Malta it is a crypto friendly country and many exchange and coins have moved to malta to base there as their operational center so Binance setting up a bank it's not a surprise or shocked to me because any thing about crypto related is possible in malta and I wish other countries will learn from malta

It can explain the move on BNB at the moment.... Binance will be monster in a near future...No one at the moment can compete with Binance

It is, the government of it is attracting other crypto developing companies to stay there with no taxation with their profits.

I fully agree that one day Malta will become the center of blockchain development but it's not the only country that we should take a look. There's more of it to come, they are a good example for countries that are still skeptic and doubtful with crypto's.

With Binance's move to Malta, other crypto big companies will follow it and Malta's Prime Minister is very welcoming, God bless him.

I am so happy about this news, this will really attracts more investors into the crypto space and Malta has been so far one of the crypto friendly country and I hope other countries will follow their foot step.

With the launch of fiat trading, volumes should grow, as this exchange has a very large number of trading pairs, a good exchange rate for bitcoins, and, of course, reputation. It is interesting, for the withdrawal of the funds will require verification?

This is a good strategy by Binance. But I want to ask something. Will the direct fiat to cryptocurrency exchange spread across all countries fiat currency or is limited to USD only? Also can anyone tel me the price expectation of the Binance token in times to come?

Well Huobi sort of can, at least in terms of volume. But I agree that Binance seems to be above everything else. Also the company makes more profit than the Deutsche Bank which is insane if you think about it.

It’s a great news for crypto market. Malta always showing a positive attitude for crypto. For this reason Maltas people can trade with crypto currency. I think in recent times all countries are accept bitcoin.