Europe is becoming a solid haven for crypto and blockchain companies, and now, the small nation of Liechtenstein is boosting the European crypto community further.
Liechtenstein: The New Crypto Target
The country will soon be home to another digital asset platform brought forth by Bittrex. The company is launching what’s called Bittrex Global, and it’s set to go live by the end of October. Crypto traders throughout the continent will soon have access to what a statement refers to as a “wide variety of tokens,” though at press time, it’s unclear what those tokens are.
In addition, the American crypto company is also developing an office in the Liechtenstein capital of Vaduz. The country was a very tempting location given its clear laws surrounding the regulation and operation of crypto and blockchain-based enterprises.
Under scrutiny from the European Union, Bittrex is set to introduce all kinds of new features including a customer rewards program. Investors will also get access to credit card interoperability and “private token sales.” The company is planning to register under what’s known as the “Blockchain Act,” while those in charge of the new office will be Stephen Stonberg, the company’s chief operating officer, and Kiran Raj as the office’s new CEO.
Europe is really coming to terms with blockchain technology and is becoming a force to be reckoned with. Countries like Malta, for example, have become prime crypto havens for their easy-going regulation. Thus, several crypto and blockchain companies in Asia that were facing shutdown and even persecution have ultimately packed up their bags and relocated to Malta to enjoy the liberated atmosphere.
One such company to leave its home and relocate to Malta is Binance, arguably the largest and most popular cryptocurrency exchange in the world.
In addition, the European country of Switzerland is home to what has been playfully dubbed “Crypto Valley,” a section of the country that’s dedicated to cryptocurrency and blockchain technology startups. The region takes its name form the Northern California area of Silicon Valley, which is famous for housing some of the world’s biggest tech companies such as Facebook and Google.
Interestingly, however, Bittrex originally had a subsidy known as Bittrex International that was based in the country of Malta, but that enterprise is on the verge of shutting down. Customers of that “doomed” platform will be moved over to the new venture in Liechtenstein, which executives claim will offer all the same tokens previous clients had access to.
Excited for Change?
Bill Shihara – the chief executive of Bittrex – commented:
Bittrex International was innovate and helped Bittrex foster the adoption of blockchain technologies worldwide. We’re excited to license our technology platform to Bittrex Global, and I look forward to seeing what they have in store for the international blockchain community.