Plans for the world’s first decentralized bank are taking root in Malta.
The project is backed by the world’s largest cryptocurrency exchange, Binance, which was founded by bitcoin billionaire Changpeng Zhao.
Malta has been very receptive to cryptocurrency projects in the past.

Plans for the world’s very first decentralized bank are taking root in Malta.

According to Bloomberg, the project is backed by bitcoin billionaire Changpeng Zhao’s cryptocurrency exchange, Binance.

Binance, which uprooted its operations to the tiny European island of Malta earlier this year, has been warmly welcomed by the country’s prime minister, Joseph Muscat.

In March, Muscat tweeted that he had high hopes for his country’s role within the blockchain industry:

“We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies,” Muscat wrote.

Welcome to #Malta 🇲🇹 @binance. We aim to be the global trailblazers in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies -JM @SilvioSchembri https://t.co/3qtAQjOpuQ

— Joseph Muscat (@JosephMuscat_JM) March 23, 2018

The project for the decentralized, community-owned bank has already received backing from both Binance and the Malta government …read more

Source:: Businessinsider – Technology

      

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