Cryptocurrencies have been steadily gaining popularity in Moldova, a former Soviet republic that is economically and politically on a crossroad between East and West. The local crypto community has recently announced developments reflecting this trend – a new exchange and a new token have been presented, both labeled “Made in Moldova”. Add to that an indirect permission from the central bank.
Also read: Another Post-Soviet Jurisdiction Welcomes Crypto Miners
10 Cryptos, 8 Currencies
Drachmae Market will be trading 10 digital coins initially, including leading cryptocurrencies like Bitcoin Core (BTC), Bitcoin Cash (BCH), and Ethereum (ETH), as well as a couple of Moldovan tokens like Zozo coin and Drachmae’s own DTMI token. The trading platform also supports transactions of eight fiat currencies, among which euros, dollars, rubles, and of course, Moldovan leu (MDL). Drachmae Market, set up with the help of the local Digital & Distributed Technology Moldova Association (DTMA), has been announced as the country’s first crypto exchange. It is already accepting subscriptions.
DTMA was created in the beginning of this year to facilitate the implementation of distributed ledger technologies in the country’s economy. It is also closely working with Moldovan authorities and regulators on a proposal to establish a special tech zone with tax breaks and incentives for blockchain startups. A similar project has been realized successfully in another former Soviet republic – Belarus, where a growing number of fintech companies are now taking advantage of their membership of the Hi-Tech Park in Minsk.
The news about the launch of Drachmae Market, which came out from a major blockchain and cryptocurrency event hosted by the Moldovan capital, was covered by both local and foreign crypto media. On Friday, the World Blockchain and Cryptocurrency
