The world’s second largest crypto exchange, Binance, is backing plans to create a blockchain-based bank with tokenized ownership, Bloomberg reports today, July 12. The future “Founders Bank” would be owned by digital token investors and be based in Malta, known for its robust and transparent crypto regulatory climate. According to Bloomberg, Binance has already invested in a 5 percent stake, along with other anchor investors, at a $155 million pre-money valuation. The project seeks to become the world’s first decentralized, community-owned bank. The owners of the future bank will be issued with “legally-binding equity tokens” in return for their investment, …

Malta-based company Palladium will launch the world’s first so-called initial convertible coin offering (ICCO) with two partners including Bittrex, a press release announced July 10. Palladium, which wants to build a regulated cryptocurrency exchange in Malta, will seek to distribute $150 million in tokens in the ICCO, scheduled to begin July 25. The exchange, which will operate under full regulation of Malta’s increasingly crypto-friendly jurisdiction, will be built using around 15 percent of accumulated funds. The remainder, Palladium says, will be used in the “acquisition of a controlling interest in a European bank,” along with “strategic investments in financial services …

The Parliament of Malta has passed three bills into law that establish a regulatory framework for blockchain technology, local news outlet Malta Today reported July 4. The bills include the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act. Silvio Schembri, Junior Minister for Financial Services, Digital Economy and Innovation within the Office of the Prime Minister of Malta, tweeted about the passing of the bills today, noting that the island nation is a pioneer in providing a solid legal framework for blockchain companies: “The three Bills that will regulate distributed …

Malta approved three distributed ledger technology and crypto-related bills in their second reading in Parliament yesterday, June 26, according to legislative records from the plenary session. The approved bills include the Innovative Technology Arrangements and Services Bill, the Virtual Financial Assets Bill, and the Malta Digital Innovation Authority Bill. The first two bills provide for the regulation of digital ledger technologies – of which blockchain is one type – and virtual financial assets in Malta under the supervision of the Malta Digital Innovation Authority. The Malta Digital Innovation Authority Bill establishes the organization with the goal to “promote consistent principles …

Given the apparent sensitivity of cryptocurrency markets to regulatory and political developments, it stands to reason that the world's leaders — and what they think about crypto — will be vitally important in determining the direction the cryptocurrency market will travel in the future. Many leaders have been willing to sit back over the past few months and let crypto develop — more or less — organically, yet it's becoming apparent that the time for official action is drawing increasingly near, at which point Bitcoin, et al. will either bear the brunt of government 'crackdowns' or will benefit from favorable …

Marcel Cassar, the newly appointed chairperson of the Malta Bankers Association, said that blockchain tech sounds like a “banker’s dream.” Cassar also claimed that cryptocurrencies are “here to stay,” according to a June 17 interview with local news outlet The Malta Independent. Cassar begins the interview by noting that the banking industry has to keep up with the fast-changing digital world, making the comparison of the present environment to “rush-hour gridlock trapping a Formula 1 car.” This slowdown, in his opinion, means that although blockchain sounds like a “banker’s dream” and a “total game-changer,” due to its authentic and reliable …

The Malta Stock Exchange (MSE) has announced that digital currency exchange Binance is backing its newly launched program to support fintech and crypto startups, Finance Magnates reported June 18. According to a tweet by the MSE’s official Twitter account, it will accept up to twelve fintech companies to utilize the facilities proposed within the newly established program: The @MaltaStockExch is pleased to announce the MSX Fintech Accelerator. Will accept up to 12 Fintech Cos. to utilize our facilities.Thank you @binance & @cz_binance for a lead mentoring Co.@JosephMuscat_JM @edward_scicluna @SilvioSchembri https://t.co/jSLNTmanI8 — Malta Stock Exchange (@MaltaStockExch) June 18, 2018 MSX FinTech …

Crypto exchange Binance announced plans to allow fiat-crypto trading this year through a separate Malta-based exchange, a Binance representative told Cointelegraph today, June 11. Binance is currently the second largest cryptocurrency exchange by 24-hour trading volume, seeing about $1.5 bln in trades on the day to press time. While Bloomberg reported today that Binance will “soon allow customers to convert digital tokens into fiat currencies”, a Binance representative clarified to Cointelegraph that “Binance.com is a pure crypto-to-crypto exchange.” They confirmed that crypto-fiat trading will only be offered through a separate local exchange the company is opening in Malta. Binance Malta …

Changpeng Zhao, the CEO and founder of Binance, revealed the company has set up a bank account in Malta, in an exclusive interview with Cointelegraph Wednesday, June 6th. Binance is currently the world’s largest crypto exchange with $1.47 bln in trade volume, according to Coinmarketcap data. The move brings the exchange one step closer to its plans to offer fiat-to-crypto deposits and withdrawals on its platform, a feature that would further improve the exchange’s liquidity and facilitate new investors entering the space with fiat purchases. Zhao, better known as CZ, described the new bank account as a “very significant” development …

The world’s largest crypto exchange Binance has made an undisclosed investment into blockchain-based esports voting platform chiliZ, according to a press release published today, June 5. According to the announcement, the Malta-based platform in which Binance is investing is part of Mediarex Group, a global sports and entertainment company. Binance and chiliZ will reportedly “join forces” to provide the sports industry with a “fan-driven token ecosystem for traditional sports teams.” According to the press release, chiliZ has already raised $27 mln via an ongoing “private placement”, evidently a closed token sale. The company claims that Binance’s investment will “enable the …

OKEx, a Hong Kong-based prominent crypto assets exchange and a top 3 trading floor in many crypto assets, implemented a participatory mechanism that allows its users to vote on token listing proposals. Under the scheme, projects supported by a majority of OKEx users will have the option for a priority listing review. To vote, the user must hold exchange’s own OKB token, that is used as a ballot - 0.1 OKB counts for one vote. OKEx has also introduced another method of fast-tracking tokens to get listed called “Community Building”. If a candidate project manages to bring at least 50,000 …

Recently expatriated Polish cryptocurrency exchange BitBay tweeted yesterday, May 30, that the Polish Financial Supervision Authority (KNF) has asked them to join a Blockchain Working Group. BitBay suspended operations in Poland this week after banks refused to cooperate with the exchange, in the wake of the Polish government’s increasingly negative stance toward cryptocurrencies. Although BitBay did not directly address whether they would accept the KNF’s invitation, they wrote in yesterday’s tweet that they “are not abandoning crypto activity for the Polish community.” Nasza giełda otrzymała zaproszenie z KNF do udziału w pracach Grupy roboczej ds. Blockchain. 💪 Jak zapewnialiśmy ostatnio, …