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Crypto exchange OKEx will open an office on the blockchain island after the same decision was made by Binance, another major cryptocurrency trading platform.

The Government of Malta welcomes the decision of the Chinese crypto exchange OKEx to move its headquarters to the island. The country's Prime Minister Joseph Muscat added that Malta becomes the best jurisdiction for EU and world blockchain-related and cryptocurrency companies.

Chris Lee, CEO of OKEx, for his part, stated that he was looking forward to starting cooperation with the authorities of Malta, as they are “forward thinking and shares many of our same values: the most important of which are protection of traders and the general public, compliance with Anti Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem.”

“Malta’s Virtual Financial Asset Act is a solid foundation for the industry and the government to work together in fostering the nascent blockchain/digital asset industry. More specifically, Malta’s sound risk-based approach will help cultivate a responsible, compliant, and healthy ecosystem,” Tim Byun, Chief Risk Officer and Head of Government Relations of OKEx, said.  

Furthermore, the parliamentary secretary for finance, digital economy and innovation Silvio Shembri said that Malta welcomes everyone who wants to make it a blockchain island.

Earlier, Binance, the world's largest crypto exchange by trading volume, announced its plans to move its headquarters from Hong Kong to Malta, and also launch its own decentralized crypto exchange. Later, Zhao Changpeng, CEO of Binance, disclosed that, as far as he knows, about 20 cryptocurrency-related companies decided to establish their offices on Malta, which seemingly is devoted to become a hub for the blockchain industry and to compete with already well-known Swiss Zug.