Cryptocurrency exchange Binance has announced a partnership with the Malta Stock Exchange to launch a programme that will empower startups and entrepreneurs in the fintech sector.
The Binance-Malta Stock Exchange partnership will result in the development of the “MSX FinTech Accelerator Programme”. The programme aims to identify and boost startups in the fintech sector by providing them with the support they need to succeed. This includes access to services and facilities related to the industry, mentors (such as Thomson Reuters), and connections to established entities.
The Malta Stock Exchange plays a critical role in that it will be providing startups access to its accounting and payroll services, as well as office spaces and communications equipment.
In recent months, Malta has become a solid player in the blockchain sector, welcoming foreign startups and companies. While many countries have been cracking down on cryptocurrency exchanges, Malta has been introducing legislation to foster the growth of the cryptocurrency industry. According to the Times of Malta, the legislation “will introduce a brand-new regulator and lay out rules by which companies in the Distributed Ledger Technology sector, from platform-based services to smart contracts and Initial Coin Offerings, can operate.” Furthermore, it is expected that the legislation will be approved by parliament before it goes on summer recess.