ABCC Crypto Exchange to Boost European Presence with Malta Office

Digital currency exchange ABCC will open its European headquarters in Malta.

Singapore-based digital asset exchange ABCC announced in a Medium post on Monday that it would set up an office in Malta in a move aimed at strengthening its presence in Europe. AlphaBit CryptoCurrency Exchange, to give the full name of the Singapore-based platform, follows in the footsteps of Binance and OKex which opened offices on the island earlier this year.

The Malta office will be the first step into the European crypto scene for the trading platform, which has been operational since the end of April and currently ranks eleventh by trading volume according to data from Coinhills. Furthermore, the exchange has agreed to be an official sponsor of the blockchain-focused Delta Summit that will be held in the Maltese town of St. Julian’s on October 3-5.

“We are delighted to announce the opening of our first expansion into Europe and our partnership with Delta Summit. Indeed, we look forward to working closely with the Government of Malta and to support its transition into a digital innovation center of excellence,” ABCC CEO Calvin Cheng commented.

At the same time, the Mediterranean island keeps attracting digital currency and blockchain businesses from around the world, especially after the Maltese government passed in June three bills into law that regulate the crypto and blockchain sphere. With a legal framework in place, Malta can easily approach the sector with a long-term look, Junior Minister for Financial Services, Digital Economy and Innovation Silvio Schembri told Forbes.

Schembri thanked the crypto exchange for “putting their trust in Malta” and for bringing Malta closer to becoming “The Blockchain Island”. Notably, among the advisors in the ABCC team is Michael Frendo, former minister of foreign affairs of Malta.

At present, ABCC offers trading with over 50 virtual coins, BTC, ETH and USDT being the base currencies.