The company, founded last year in Hong Kong, will open an office in Malta, the chief executive officer Zhao Changpeng said, according to Bloomberg.
“We are very confident we can announce a banking partnership there soon,” Zhao said. “Malta is very progressive when it comes to crypto and fintech.”
Malta is looking for ways to become a hub for companies with digital assets. The government held several public consultations on the regulation of virtual currencies, the sale of tokens and cryptocurrency exchange. It was reported that the plans were made last month to establish an independent digital innovation agency in Malta, which will certify and regulate activities based on blockchain. The newspaper reported that the organization will also create a framework for monitoring initial coin offerings.
According to Zhao, Binance also plans to start a decentralized exchange in the upcoming months. About 10 teams are working on its development, but the technology is currently not developed well enough to replace the existing centralized exchange.