Bittrex, a US cryptocurrency exchange founded in 2013, has announced that it will open a cryptocurrency trading platform in Malta, which will simplify the token approval process for global users outside the US.
By shortening the approval process, tokens can go online "in weeks, not months".
The trading platform will operate under the regulatory framework established by the EU and the Maltese government and follow Malta's Virtual Financial Assets Act (VFA). Over the next year, the company plans to apply to Malta's Financial Services Authority to become a regulated cryptocurrency exchange.
According to Mars Finance, all countries have access to the Bittrex Malta exchange other than the US and the US users will continue to use Bittrex.com and have no access to the international market.
Last September, Bittrex invested in Palladium, a Malta-based blockchain company, and received a 10 percent stake.
In August, Bittrex announced that it was joining the “virtual goods association working group”, a self-regulatory association for digital assets such as cryptocurrencies, which plans to be "a pioneer in carrying out digital currency self-regulation activities".