Bittrex International is now set to launch a digital trading platform that will operate under EU and Maltese Governmental regulatory framework, according to an October 29th press release.
The new platform, previously branded as Bittrex Malta, will undergo a multi-week evaluation period to ensure it works smoothly for international customers.
Key Features Include Streamlined Token Approval Process
According to the press release, one of the key features of Bittrex International will be a token approval process designed to cut down on approval time from months to weeks.
Those on a token team will also have access to Bittrex’s global network of exchange partners who will list new (and current tokens) on Bittrex and Bittrex International providing they comply with regional regulations.
The actual approval process will be the same as Bittrex’s standard review process, but qualified projects will be asked to adhere to the process listed in Malta’s Virtual Financial Assets Act.
Bittrex CEO Bill Shihara remarked how the platform’s advanced features will
make it easy to quickly feature the newest, most innovative blockchain projects for our international partners and customers.
He said Bittrex International would not be charging a token listing fee because “we believe it's more important for token teams to invest their time and money in technology and business development.”
Bittrex International will also apply to Malta’s Financial Service Authority to become a regulated Virtual Financial Asset exchange, and will utilize the same stringent KYC and AML review process as other Bittrex services.
Malta Becoming A Global Crypto And Blockchain Leader
The small European nation of Malta has rapidly ascended to be a global hub for blockchain and cryptocurrency.
However, authorities in the country have recently issued a warning against an exchange operator called Primetradingbot for allegedly luring cryptocurrency traders and investors through a “dubious” scheme.