ABCC Exchange Opens European Headquarters In Malta

Singapore-based digital currency exchange, ABCC plans to open its European headquarters in Malta. The exchange made this announcement via the Medium post on Aug 6. The exchange mentioned that it plans to set up an office in Malta as a move towards strengthening its presence in Europe.

ABCC took this decision on the lines of Binance and OKEx which too opened offices in Malta, earlier this year. The exchange which has been operational since the end of April presently ranks 11^th in terms of trading volume as per the data derived from Coinhills. Setting up an office in Malta will be the exchange’s first step into the European crypto scene. ABCC has agreed to be the official sponsor of the blockchain-focused Delta Summit to be held at St.Julian, Malta on October 3-5.

ABCC CEO, Calvin Cheng stated that the exchange is delighted to announce its expansion into Europe and its partnership with Delta Summit. The exchange is looking forward to work closely with the Government of Malta and to support its transition into a digital innovation center of excellence.

After the Malta government passed three bills in June pertaining to regulating the crypto and blockchain sphere, the island has been attracting digital currency and blockchain businesses from around the world. Junior Minister for Financial Services, Digital Economy and Innovation, Silvio Schembri, told Forbes that with a legal framework in place, Malta can easily approach the sector from a long-term perspective.

As mentioned in the Cryptovest report, Schembri thanked the crypto exchange for vesting their trust in Malta and for propelling the island to become the “Blockchain Island”. The former minister of Foreign Affairs, Malta, Michael Frendo is among the advisors in the ABCC team. Presently, the exchange offers trading with over 50 virtual currencies, ETH, BTC, and USDT being the base cryptocurrencies.

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