It appears that all the hype around Malta being ‘the Blockchain Island’ is not that far from reality. Crypto Disrupt can exclusively reveal that TRON Limited, Malta has now been set up and is ready for operation in the crypto space.
According to information gleaned from the Malta Financial Services Authority, TRON Malta Ltd has Company Registration Number C85858 and has as its registered address, Melita Court, Level 3, Giuseppe’ Cali Street, Ta’ Xbiex Malta.
In a much-publicised tweet, CEO of TRON Justin Sun announced that he supported Prime Minister, Joseph Muscat, in his vision to make Malta a Blockchain island. He also indicated that TRON was looking to team up with its strategic partner, Binance, in their Malta-based operation. Sun is a master at creating hype, and with the Mainnet launch of TRON expected on June 1st, the price of the cryptocurrency has risen by over 100% in the past week alone.
Speculation had been rife on when TRON would move to Malta ever since Binance CEO, Changpeng Zhao, had announced, with much fanfare, that the world’s largest crypto exchange would be moving to the Mediterranean island.
The developments in Malta have come at breakneck speed in 2018. Just after the Binance announcement, OKEx announced they also were moving to Malta. Last week, Parliamentary Secretary for Digital Innovation, Silvio Schembri, presented three bills in parliament for discussion. These deal with blockchain and DLT technology, as well as cryptocurrencies.
However, all is not rosy for the island yet concerning crypto. As we will reveal in future stories, the country’s banks appear very wary of blockchain and cryptocurrency developments. There have been reported cases where investors have had their transfers from personal accounts to exchanges such as Coinbase and Kraken blocked for no reason. It is also becoming increasingly difficult for foreign companies to open bank accounts in Malta. According to sources within government, there are active discussions going on with banks to relax their position although nothing has been announced as yet.
Jay is pretty interested in the crypto space. He’s written for several publications on the topic and has lots of ideas on how the world can be made a better place with blockchain technology. He’s also a fintech journalist with some years of experience and enjoys writing about new startups, ICO’s as well as any other intriguing news that catches his fancy.