Bittrex, the US-based blockchain trading platform is looking forward to going global by launching a new digital trading platform which is set to feature a “streamlined” token approval process, based in Malta. The company’s blog on 29th October revealed that its focus would be on international customers. They also said that new tokens would be given due approval and then listed on the platform in a matter of weeks, instead of months as was previously estimated. Bittrex International is set to go through a few weeks of testing and evaluation before they start accepting it, customers.
The platform will function within the regulatory framework laid down by the European Union and the Government of Malta, using Malta’s Virtual Financial Assets (VFA). They, in another year, also have impending plans to apply to the Malta Financial Services Authority in order to become a regulated virtual financial asset exchange. This collaboration with the Maltese legal system will not only allows the addition of a euro crypto pair but also facilitate financial transactions for clients who do not comply with the complex requirements of U.S. law.
Previously called Bittrex Malta will be made available for customers from all countries except for American citizens who can access and use the parent platform, Bittrex.
CEO of Bittrex, Bill Shihara said that their main aim was to be an active part of the blockchain revolution, and added,
We are committed to being a driving force in the blockchain revolution by increasing adoption of this innovative technology around the world. Bittrex International’s more efficient token listing process, combined with our reliable, secure and advanced trading platform technology, will make it easy to quickly feature the newest, most innovative blockchain projects for our international partners and customers. And, because we believe it’s more important for token teams to invest their time and money in technology and business development, Bittrex International — just like Bittrex.com — will not charge a token listing fee.
According to CoinMarketCap, Bittrex, founded in 2013, is currently ranked at 43, based on daily trade volumes.