Binance sets up bank account in Malta

[RothsCoin]

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 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
RothscoinTeam

[1715303326]

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[sainaselalisa]

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.

[Tipstar]

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.

[kirstiemorton23]

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.

[tng811]

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.

[boyshx]

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.

[Anton1105]

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

[CryptoTamer]

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 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
RothscoinTeam

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?

[cryptogeek101]

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 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
RothscoinTeam

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.

[Donned]

The Binance exchange is a great exchange, so I think if they can set up bank accounts, then there will be a lot of people filling up and trading in the bank.
They will succeed.

[spastikss]

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.

[lotfiuser]

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

[kma.deno]

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.

[Mkpez]

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.

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

[Md.salauddin]

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.

[Perka]

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!

[Muslimin mj]

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.

[Muslimin mj]

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.

[Bezobraznike]

   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.

[hasimkamal]

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.