Bittrex International announced that it will launch a digital trading platform that will feature a streamlined token approval process and provide more trading options for qualified international customers. This new international trading platform, previously branded as Bittrex Malta, will begin a brief evaluation period during the next few weeks to ensure optimal operations for international customers.
The key feature of the Bittrex International platform will be a streamlined token approval process, which can be completed within weeks instead of months. In addition to the new listing process, token teams will have access to our extensive network of international exchange partners. The partner network will list both the current and new tokens listed on Bittrex.com and Bittrex International that are consistent with their regional regulatory environment..
“We are committed to being a driving force in the blockchain revolution by increasing adoption of this innovative technology around the world,” said Bittrex CEO Bill Shihara. “Bittrex International’s more efficient token listing process, combined with our reliable, secure and advanced trading platform technology, will make it easy to quickly feature the newest, most innovative blockchain projects for our international partners and customers. And, because we believe it’s more important for token teams to invest their time and money in technology and business development, Bittrex International — just like Bittrex.com — will not charge a token listing fee.”
Bittrex International’s streamlined token approval process for new blockchain projects will adhere to Bittrex’s standard initial review process, evaluating the authenticity, innovation and quality of the token. After the initial review, qualified projects will be directed to follow the process outlined in the Malta Virtual Financial Assets Act. The certainty and streamlined process provided by the VFA Act will enable Bittrex International to list existing token projects within weeks instead of months, and if a team begins the process before the initial launch of their new project, the token could be listed as soon as their blockchain goes live.
During the upcoming evaluation period, both current and new international customers will be redirected to International.Bittrex.com for login or sign up. Current international customers will be able to use their current Bittrex.com logins to access new international markets and trade after signing the new Terms of Service agreement. Current and new U.S.-based customers will continue to use Bittrex.com and will not have access to international markets.
Bittrex International will operate within the regulatory framework established by the European Union and Maltese Government, including the Malta Virtual Financial Assets Act, also known as the VFA Act. The international platform will use the same high levels of Know Your Customer and Anti-Money Laundering review as other Bittrex services. Bittrex International will operate under the 12-month transitory period provided by the VFA Act, and the company will apply to the Malta Financial Services Authority to become a regulated Virtual Financial Asset exchange.