Bittrex to launch international trading platform based out of Malta

The U.S Based Exchange Bittrex is now setting foot into the ‘Blockchain Island’ Malta by launching an international Trading platform.

Bittrex is one of the largest Crypto exchanges in the U.S with over 200 tokens listed on its platform. It is now expanding to Malta to launch an international trading platform.

The key feature of the new exchange according to the announcement is:

“A streamlined token approval process, which can be completed within weeks instead of months.”

Malta is one of the first nations to come up with clear-cut regulations on virtual currencies. The island nation which is home for Exchanges like Binance and OKEx passed a Virtual Financial Assets Act (VFA) in July this year.

Bittrex CEO Bill Shihara said:

“We are committed to being a driving force in the blockchain revolution by increasing adoption of this innovative technology around the world, Bittrex International’s more efficient token listing process, combined with our reliable, secure and advanced trading platform technology, will make it easy to quickly feature the newest, most innovative blockchain projects for our international partners and customers. And, because we believe it’s more important for token teams to invest their time and money in technology and business development, Bittrex International — just like Bittrex.com — will not charge a token listing fee.”

Some key points about Bittrex Malta:

  • The process of listing new tokens will be easier and faster. The approval process will be in accordance with the Malta Virtual Financial Assets Act.
  • There will NOT be any type of listing fee.
  • “Current and new U.S.-based customers will continue to use Bittrex.com and will not have access to international markets”
  • Current and new customers(other than the US) will be directed to International.Bittrex.com for login and signup processes. They will also have access to Bittrex.com
  • AML/KYC processes will be followed according to the European Union and Maltese standards.

Bittrex Tweeted:

Also read: Scam alert: Google Play contains fake crypto mining apps

Source: https://blockmanity.com/news/exchanges/bittrex-to-launch-international-trading-platform-based-out-of-malta/