Recent reports reveal that crypto giant Binance is backing up Malta Stock Exchange’s newly-released program which would assist fintech startups as well as entrepreneurs.
MSX Fintech Accelerator, as the name suggests, is a newly-minted program released by the aforementioned European country to provide fertile soil for crypto entrepreneurs and startups to flourish into successful platforms, thereby contributing for the greater benefit of the entire crypto world.
Aside from Binance, the startup program has another valuable ally rallying to its side, namely Thomson Reuters, which would help mentor the program’s administrators and steer its leadership to the right direction.
Yesterday, June 18, the exchange announced on Twitter that it “will accept up to 12 fintech companies to utilize [their] facilities.” Additionally, it expressed in the same tweet its gratitude to Binance for the mentoring role.
Malta is considered by many to be the Crypto ‘hub’ of the world and is “becoming a fintech and blockchain center of excellence,” as said by Joseph Portelli, chairman of the said exchange. Even though it is only a small archipelago located within the Mediterranean Sea, but it has proven to be the favorite destination of crypto firms.
As affirmed by Binance in a separate statement,
“We moved our operations to Malta precisely because it has demonstrated its progressive approach to supporting and developing the crypto and blockchain industry. Malta is creating a safe and legislated environment for the industry to become reputable, attracting companies like ours and many others.”