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Cryptocurrency exchange in the United States Bittrex is launching a cryptographic exchange in Malta at the beginning of next month. Bittrex says the new platform will allow them to list "much faster" coins. It will operate within the regulatory framework established by the European Union and the Maltese government.
Read also: 160 Crypto Exchange try to enter the Japanese market, the regulator reveals
Bittrex Eyes Malta launches in October
<img class = "alignright wp-image-215892 size-medium” title=”Bittrex launches the Crypto Exchange in Malta next month” src=”https://news.bitcoin.com/wp-content/uploads/2018/09/bittrex-300×76.jpg” alt=”Bittrex to start Crypto Exchange in Malta Next month "width =" 300 "height =" 76 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/09/bittrex-300×76.jpg 300w , https://news.bitcoin.com/wp-content/uploads/2018/09/bittrex-696×176.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/09/bittrex. jpg 731w "sizes =" (maximum width: 300px) 100vw, 300px”/>Bittrex confirmed that "it will open a branch in Malta on October 1, as part of its global expansion plans," the Investor reported on Friday, September 14. The co-founder and CEO of Bittrex, Bill Shihara, has declared to the Upbit Developer Conference on Jeju Island in South Korea:
Now we are planning to launch Bittrex Malta … This will allow us to list the tokens a lot faster.
The conference is organized by Dunamu Inc., the operator of one of the largest cryptographic exchanges in South Korea, the Upbit supported by Kakao. Bittrex has a partnership agreement with Upbit that "allows the two exchanges to share the same portfolio of orders and coin listings, among others", announced the news outlet.
Shihara explained that "the process of quoting the currencies will be much easier and faster in Malta", noted the publication, adding that the exchange "will not also apply fees for listing".
<img class = "alignright wp-image-215901 size-medium” title=”Bittrex launches the Crypto Exchange in Malta next month” src=”https://news.bitcoin.com/wp-content/uploads/2018/09/bitrex-malta-300×94.png” alt=”Bittrex to start Crypto Exchange in Malta Next month "width =" 300 "height =" 94 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/09/bitrex-malta-300×94. png 300w, https://news.bitcoin.com/wp-content/uploads/2018/09/bitrex-malta-768×241.png 768w, https://news.bitcoin.com/wp-content/uploads/2018/ 09 /bitrex-malta-1024×322.png 1024w, https://news.bitcoin.com/wp-content/uploads/2018/09/bitrex-malta-696×219.png 696w, https://news.bitcoin.com/ wp – contents / uploads / 2018/09 / bitrex-malta-1068×336.png 1068w, https://news.bitcoin.com/wp-content/uploads/2018/09/bitrex-malta.png 1209w "sizes =" ( max -width: 300px) 100vw, 300px”/>Bittrex has already established a branch in Malta and a subsidiary, Bittrex International, to manage all of its operations abroad.
Citing that "Bittrex Malta is designed to operate within the regulatory framework established by the European Union and the Maltese government", the exchange wrote:
All digital assets listed on Bittrex Malta will be available for our international partner exchange network to be launched (in accordance with their local laws).
The overseas expansion of Bittrex
The CEO explained that "working with the government in the United States to stay compliant is difficult, so it would be very difficult for us to open offices all over the world in different countries", elaborating:
We really 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 have to do is help them improve their exchanges.
<img class = "alignright wp-image-215904 size-medium” title=”Bittrex launches the Crypto Exchange in Malta next month” src=”https://news.bitcoin.com/wp-content/uploads/2018/09/upbit-300×98.jpg” alt=”Bittrex to start Crypto Exchange in Malta Next month "width =" 300 "height =" 98 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/09/upbit-300×98.jpg 300w , https://news.bitcoin.com/wp-content/uploads/2018/09/upbit.jpg 580w "sizes =" (maximum width: 300px) 100vw, 300px”/>The newsletter noted that Shihara expressed "great satisfaction with the bond", adding that "it 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 does not plan to add any other legal currencies, the publication described. "But we intend to continue to quote more digital currencies that trade against the US dollar." According to Coinmarketcap, Bittrex now lists 287 coins while Upbit has 273 coins.
What do you think about Bittrex opening an exchange in Malta? Let us know in the comments section below.
Images kindly granted by Shutterstock, Investor, Upbit and Bittrex.
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