Blockchain-based, equity fundraising platform Neufund, whose technology allows tokenization of shares and fundraising on the blockchain, is announcing that it will establish a strong presence in Malta and support Malta’s rapidly expanding blockchain ecosystem.
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Neufund, a startup headquartered in Berlin, is the latest of many blockchain companies that have established a presence in the Mediterranean island nation, attracted by the promise of crypto-friendly regulations. Last week, cryptocurrency exchange OKEx announced[3] that it is expanding its operations to Malta. In late March, Binance, the largest cryptocurrency exchange by trading volume, also announced plans to move operations[4] to the cryptocurrency-friendly EU member state.
“[Virtual currencies] will form the base of a new economy in the future,” said Joseph Muscat, Prime Minister of Malta, in a recent speech[5].
“There is huge interest in the blockchain industry from all across the globe and it has the potential to be even more beneficial to the Maltese economy than igaming,” said[6] digital economy parliamentary secretary Silvio Schembri.
An authority called the Malta Digital Innovation Authority[7] (MDIA) will be created to regulate companies that operate on blockchains and to promote Malta as a destination for these companies.
Malta is not the first European nation to promote itself as a blockchain haven and try to attract capital and talent with crypto-friendly regulations, but the fact that Malta is a member of the EU could make it more appealing than, for example, Switzerland’s “Crypto Valley[8].”
“Looking at Malta’s vision and progress in creating a complete blockchain ecosystem, we have decided to engage our know-how and offer support in building the blockchain future of this progressive thinking EU member state,” says Zoe Adamovicz, CEO
