Crypto exchange Bittrex has announced its plans to launch a new digital asset platform – Bittrex Global – based in Liechtenstein.
The platform is scheduled to go live by the end of this month and will provide “access to a wide variety of tokens” to crypto traders.
The US-based exchange also established a headquarter in the city of Vaduz in Liechtenstein and is planning to benefit from the tiny European country’s clear laws for digital assets and blockchain technology.
Regulated by EU laws, the new exchange platform is also expected to introduce features like customer reward programs, credit card interoperability, and private token sales. It is also considering to register under the Transaction Systems Based on the Trustworthy Technologies Act, also known as the Blockchain Act, commonly referred to as the Blockchain Act.
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The exchange also appointed Kiran Raj as the new CEO of the Liechtenstein-based subsidiary and Stephen Stonberg, a financial market veteran, as its chief operating officer.
Strategic launch of exchange amid the closure of another
Bittrex is opening the new exchange at a time when it is closing its Malta-based European subsidiary Bittrex International. The announcement detailed that the upcoming platform will have the capability to accommodate all the clients of Bittrex International and any token listed on the exchange can seek for listing on the new trading platform.
“Bittrex International was innovative and helped Bittrex foster the adoption of blockchain technologies worldwide,” Bill Shihara, chief executive of Bittrex, said. “We’re excited to license our technology platform to Bittrex Global, and I look forward to seeing what they have in store for the international blockchain community.”
Liechtenstein is one of the most crypto-friendly nations on the globe. The country recently introduced a Blockchain Act to attract blockchain firms. Last year, Binance partnered with LCX to open a crypto-fiat exchange in the country to serve the European traders.