The Malta Stock Exchange has announced that Binance, one of the leading crypto exchanges, is backing the exchange’s newly launched startup accelerator program called the MSX FinTech Accelerator Programme.
The program is aimed to support fintech and crypto startups and will mentor the projects to compete with their international rivals. The program will offer the startups services and facilities like in-house accounting services and payroll, as well as office space, state of the art communication, conference rooms, and a training center.
Commenting on the accelerator program, Joseph Portelli, chairman of the Malta Stock Exchange, said: “It is clear that Malta is becoming a Fintech and blockchain center of excellence and we want to allow local and foreign companies the ability to bring their ideas to the market faster. This programme offers foreign entrepreneurs easy access to a readymade solution at one of Malta’s most prestigious addresses – the Malta Stock Exchange.”
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Malta – the blockchain hub
To attract crypto companies from across the world, Malta has proposed regulatory frameworks for this hostile sector. This proved to a huge success, as within days, Binance announced its plans to move the exchange’s base to Malta. Many other blockchain firms followed Binance to the Mediterranean island, which is now home to two of the top five crypto exchanges.
Moreover, Binance is also preparing to launch a new crypto exchange platform from its Maltese base which will facilitate crypto-fiat trading.
“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. The Malta Stock Exchange reflects these values, providing the infrastructure for entrepreneurs and start-ups to flourish in what is otherwise a highly competitive industry,” a Binance spokesperson added.