Binance Finally Opens Maltese Bank Account

The news was revealed in an exclusive interview with Binance founder Changpeng Zhao by Cointelegraph.com. Sources told CoinTelegraph that banks were showing some reluctance to get involved in the ICO and crypto spaces due to volatility and risk issues.

Zhao said that the recent publishing of legal bills on the crypto and blockchain industries would continue to put Malta at the forefront of the crypto space. He noted that Binance would be commencing operations very shortly but gave no details on the type of account opened or the bank in question.

Binance has long made known its desire to open a fiat-to-crypto exchange and had announced that it would be setting up offices in Malta.

Changpeng Zhao is seen as a controversial figure by some due to some outlandish statements that he also touches upon in the Coinbase interview. He dismissed the rumors that Binance had bought an island to turn it into a crypto-community but was very positive about the steps Malta was taking in the blockchain and crypto spheres.

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