ABCC Announces Opening of European HQ in Malta

ABCC Digital Asset Exchange (ABCC), the world-class cryptocurrency exchange, has announced the opening of its first European headquarter in Malta as well as its sponsorship of the Delta Summit 2018, the Maltese government’s official blockchain event. The strategic decision comes as part of ABCC’s ongoing commitment to strengthen its presence in Europe and beyond. The firm’s move is anticipated to create new employment and investment opportunities in the island nation.

Additionally, ABCC has partnered with Delta Summit to become an official sponsor. Set to be held from 3-5 October 2018 in Malta, the summit will convene startups, companies and investors to promote the exchange of insights and trends on a wide range of themes related to blockchain. Participating alongside the industry’s most prominent organizations, the exchange has committed to a sponsorship package of equal distinction to its first-tier counterparts. 

In a bid to transform itself into a favorable investment destination for fintech, the Parliament of Malta has passed three bills into law to establish a regulatory framework for blockchain technology earlier this month. The bills include the Malta Digital Innovation Authority Act, the Innovative Technological Arrangement and Services Act, and the Virtual Financial Asset Act. 

Commenting on the announcement, Junior Minister for Financial Services, Digital Economy and Innovation within the Office of the Prime Minister of Malta Silvio Schembri welcomed ABCC’s decision to establish its headquarters in Malta. 

“This comes just a few weeks after the Maltese Parliament enacted into law the highly anticipated three bills which will pave the way for the creation of a new economic sector. I thank ABCC for putting their trust in Malta and for providing their input to implement our vision and make Malta The Blockchain Island. I look forward to ABCC’s participation in Delta Summit, Malta Government Official Blockchain event, which will exhibit how far Malta has gone in becoming a leader in DLT regulation,” said Schembri. 

For his part, ABCC CEO Calvin Cheng said: “We are delighted to announce the opening of our first expansion into Europe and our partnership with Delta Summit. Indeed, we look forward to working closely with the Government of Malta and to support its transition into a digital innovation center of excellence.” 

ABCC was established by an international team of industry experts with wide-ranging experiences across legal practices, financial services, blockchain technology and other technologies. Its prolific profile of prominent advisors includes Dr. Michael Frendo, former Minister of Foreign Affairs of Malta, who has shaped and spearheaded policy constitutions internationally and will offer guidance to the organization’s strategic development. 

Since the launch of the platform’s token ABCC Token (AT) for Trade-to-Mine in early July, ABCC has soared to rank 5th globally on Coinhills. The AT has been open for trading since 25 July. As a key component of its digital asset ecosystem, AT plays a critical role in building consensus and creating and sharing value in the community.