New company opens door to Malta’s crypto market
The World Blockchain Forum held in Dubai was yesterday the stage for the launch of a new full stack Blockchain services provider that will help the Blockchain and crypto communities capitalise on market opportunities in Malta.
Decentralised Ventures is a partnership between Malta-based Initial Coin Offering specialist TokenKey and token research and Blockchain consultancy Strategic Coin Inc.
It has been set up to support the Maltese government’s plans to create the world’s first fully regulated market for ICOs, distributed ledger technology and virtual currencies.
TokenKey CEO Chris Emms officially unveiled Decentralised Ventures during his speaking slot at the two-day World Blockchain Forum, a gathering of investors, economic pioneers and technology leaders held in Dubai.
Commenting on the new company’s objectives, Chris said: “Malta will be the first country to provide regulatory certainty in real terms to the Blockchain and crypto community. We are proud to be the first full-stack service provider here to support Malta’s ambition to become ‘Blockchain Island’ through our many industry-leading clients and partnerships.”
Jeffrey Weinberger, President of Strategic Coin – “Strategic Coin is happy to be a partner in this venture to support the government of Malta. We firmly believe in the power of blockchain technology to transform and decentralize business processes, and we stand ready to assist any company looking to participate in Malta’s certain and favorable regulatory climate with our expertise in token generation events, research and branding.”
Malta’s efforts to seize the initiative in crypto markets has already seen two of the world’s largest cryptocurrency exchanges, Binance and OKEx, announce plans to move operations to the Mediterranean island. Binance alone handles daily exchange volumes in excess of $2 billion.
Decentralised Ventures aims to play a pivotal role in encouraging more businesses and organisations to take advantage of Malta’s forward-thinking regulatory approach.
One of the company’s key strategic goals – encapsulated in its name – is to support the development of fully decentralised financial markets built on Blockchain and other DLT platforms. Its full stack service approach is intended to help new players get off the ground and flourish in Malta’s supportive regulatory environment.
Covering advisory, strategic planning, technical, sales and marketing, Decentralised Ventures offers a complete list of end-to-end services for any organisation involved in or looking to enter the token, crypto or peer-to-peer lending markets.
Specialist areas include regulatory and compliance guidance, drawing on a wealth of jurisdictional expertise in Malta. The company leverages the considerable market knowledge of its partners to offer business strategy consultancy services for new token launches, smart contract audits for Ethereum, EOS and RSK plus a broad range of technical solutions.
It also provides payment services for exchanging tokens to fiat, advisory introductions to the top industry service providers, and sector-specific marketing and PR services.
Malta’s decision to establish a regulated DLT market is in contrast to the position being taken by many national governments across the globe. A number have signaled intentions to crack down on Blockchain-based financial markets, including ICOs and cryptocurrencies, reflecting unease amongst traditional, centralised economic administrations over their potential impact.
In February, Malta’s government announced plans to set up a new body called the Malta Digital Innovation Authority. Amongst a range of responsibilities, part of its remit will be to certify companies which wish to make use of DLT platforms for financial and other purposes.
Malta is now widely seen as being in pole position to steal a march on other economies in reaping the enormous benefits on offer from DLT-based industries.
Malta’s Prime Minister Joseph Muscat recently said: “These Blockchain operating companies are coming to Malta… because of our innovative regulatory structure that will certainly be the first, and I think also the best, in the world.”