Cryptocurrency exchange Binance, one of the world's largest cryptocurrency exchanges by trade value, is to set up offices in Malta as was announced by Chief Executive Officer Zhao Changpeng.The Hong Kong based exchange's intention is to establish a fiat to crypto currency exchange platform in Malta, which will be one of the first exchange platforms to offer such services on the island.

Mr. Changpeng expressed his excitement in moving to Malta, hailing it as being a very progressive jurisdiction in the sphere of crypto and fintech, and encouraging other crypto businesses to look into the possibility of moving operations to Malta.

Malta has launched a public consultation document on the proposed regulatory framework for the establishment of a Malta Digital Innovation Authority with the aim of ensuring adequate protection of investors and granting stability and security to this new industry. This proposal, along with other initiatives aimed at promoting Malta as a crypto-friendly jurisdiction, was one of the key reasons behind Binance's decision to base operations in Malta.