Bittrex will open a crypto exchange in Malta in …
Bittrex To Open Crypto Exchange In Malta In October
US cryptocurrency exchange Bittrex plans to launch a digital asset exchange platform in Malta early next month. According to company representatives, the new trading platform will allow listing of cryptocurrencies “much faster”. The exchange will be subject to the requirements for cryptocurrency companies in the European Union. Writes about it Korea Herald.
Bittrex co-founder and CEO Bill Shikhara, speaking at Upbit’s South Korean developer conference this Friday, said: “We are planning to launch Bittrex Malta. This will allow us to add tokens much faster “.
The conference was organized by Dunamu Inc., the operator of Upbit, one of the largest exchanges in South Korea. Bittrex has a valid partnership agreement with Upbit, which “among other things allows both exchanges to use the same order book and simultaneously list coins.”.
Shikhara noted that “the process of listing coins in Malta will be much easier,” adding that there will be no fees for listing cryptocurrencies on the exchange listing of the trading platform..
“Bittrex Malta will operate within the regulatory framework developed by the European Union and the Maltese government,” the exchange writes. “Every digital asset that goes to Bittrex Malta will be available to the international network of partner exchanges (subject to local compliance)”.
“Working with the American government is very difficult to stay within the law. Therefore, it will be difficult for us to open offices in different countries, ”continued Shikhara. “We really like the affiliate model. If we can find a great partner like Dunamu, he will take over most of the work with local regulators and banks. All we need to do is help them improve their exchanges. ” He also revealed that his company is not going to open a division in South Korea separately from Dunamu..
Bittrex began serving the US dollar in May this year, but currently has no plans to add other fiat currencies, the Korea Herald notes. “But we do plan on continuing to add digital currencies in pairs to the US dollar,” a company spokesman added. Bittrex announced Wednesday that it is preparing to launch TRON (TRX) and Litecoin (LTC) fiat pairs on September 17.
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