Seattle-headquartered crypto exchange Bittrex gains a new international affiliate that focuses on Blockchain tech. The exchange also finds a second home in Malta.
It has been a busy couple of weeks for Bittrex. The U.S.-based crypto exchange has recently launched two new trading pairs, allowing their USD market consumers to trade in Ethereum and Ripple. Furthermore, Bittrex has also teamed up with Rialto Trading, a registered trading platform seeking to trade SEC-deemed security tokens in the coming future.
The exchange now introduces its new affiliate, the Bittrex International Inc. The exchange’s communications unit states that the international affiliate will be focused on Blockchain technology, which includes owning and managing block-based business establishments across the globe. Bill Shihara, Bittrex CEO clarifies:
“At Bittrex, we’re using our secure, reliable and innovative platform technology to power the blockchain revolution. Through our U.S-based trading platform, and our growing network of partner exchanges around the world, Bittrex is making blockchain technology and digital asset trading more accessible to the global community. Bittrex International and its subsidiaries will further advance our work to increase adoption of this revolutionary technology by streamlining the process of identifying and listing some of the world’s most innovative blockchain projects.”
According to the statement, the new international affiliate is “a driving force in the blockchain revolution, increasing adoption of this innovative technology around the world.”
The global venture’s first project is establishing operations in crypto-friendly Malta. Bittrex Malta Ltd. is a digital asset platform powered by the crypto exchange’s current technology. The new enterprise is not only expected to list tokens but also aggressively promote global trust and digital currency adoption.
This can be achieved with the aid of Bittrex’s global exchange partners. These partners will be able to roll out the tokens on their own platforms. The new Malta-based exchange still needs to comply with the regulations imposed by the European Union and Maltese Government.
Malta has become a haven for exchanges seeking to either break into the industry or evade their own country’s stringent regulations. Binance has previously stated that it will be setting up shop on the island, as Bitmora has chosen Malta over the U.S. due to sternness of crypto regulation.
This is not the first instance that Bittrex has forged a partnership. The exchange is also currently collaborating with Invest.com in a bid to launch a new trading platform consumers based in the European Union.
This development follows Bittrex’s delisting of Bitcoin Gold (BTG) after the crypto became a target of a multimillion-dollar hack.