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OKex to Open Office in Malta, the Blockchain Island

Malta has made the headlines quite often for its crypto-friendly environment which has made it a blockchain hub in Europe. OKex, one of the largest exchanges in the world, with a daily transaction volume of over $1 billion, is the latest crypto company to open offices in the small island nation that has come to be fondly referred to as “the blockchain island”. In a statement, the Chinese exchange says it is confident in the Maltese government’s approach and wants to make Malta its foundation for further growth.

Shared Values Attracted OKex

The Maltese government shares the same values as OKex, and this was one of the things that attracted the exchange to the island, according to OKex’s CEO, Chris Lee.

We look forward to working with the Malta government as it is forward thinking and shares many of our same values: the most important of which are protection of traders and the general public, compliance with Anti Money Laundering and Know Your Customer standards, and recognition of the innovation and importance of continued development in the Blockchain ecosystem.

OKex’s Chief Risk Officer and Head of Government Relations, Tim Byun, recognizes the need for the government and the blockchain community to work together to promote the growth of the industry, which is still in its formative years.

Malta’s Virtual Financial Asset Act is a solid foundation for the industry and the government to work together in fostering the nascent blockchain/digital asset industry. More specifically, Malta’s sound risk-based approach will help cultivate a responsible, compliant, and healthy ecosystem.

OKex also promises to be actively involved in the blockchain and cryptocurrency ecosystem in Malta, which will entail participating in the DLT Data Conference which will be held in October and which is sponsored by the Maltese government.

The Maltese Prime Minister, Joseph Muscat, welcomed OKex into the Maltese blockchain community via Twitter.

“Malta is fast becoming the jurisdiction of choice for Distributed Ledger Technology companies in the European Union and globally,” read his tweet.

Malta Keeps Winning

OKex is just the latest in a group of blockchain and crypto companies that are finding a safe and welcoming haven in Malta. Earlier this year, Binance, another leading global exchange which was also founded in China, announced that it would be opening offices in Malta to take advantage of the enabling environment and also in light of strict regulations in China.

Led by the futuristic Joseph Muscat, the Maltese government has continuously formulated laws that create a conducive environment for the blockchain community. One of its initiatives was the Malta Digital Innovation Authority, which will work to bring certainty in regards to the blockchain and cryptocurrency community in the country.

Malta is also one of the 22 European nations that were signatories to a declaration aiming to establish a European Blockchain Partnership. The partnership will, among other things, foster cooperation among member states to exchange blockchain-related information and experience, as well as to prepare for the EU Digital Single Market, which will benefit both the private and public sectors.

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Institutional Investor: Crypto Will be Worth Trillions, Launches Hedge Fund

After leaving his position as an executive at Steven Cohen’s Point72 hedge fund, Travis Kling decided to start his own crypto-focused fund. This was a big and bullish announcement back then, but it still wasn’t enough to save the crypto market, which crashed only a month later. The following nine months were almost completely ruled by the bears, which has brought a lot of damage to the crypto world. Still, according to new reports, Kling has never given up on this project, and it seems that he will finally be ready to launch the new hedge fund over the next month. The dates have not been set yet, and it is possible that the fund’s launch will be as soon as in about two weeks. Former Point72 Manager Plans the Launch of His Own Crypto Fund The fund has been expected for a long time now, and according to what is known, it will be based in Delaware. Some reports even managed to find out that the name of the fund will supposedly be “Ikigai”. While nobody known for sure when the fund’s launch is actually going to be, it is known that it will happen in October. At first, the fund will be backed by a certain amount of capital that Kling’s unnamed partners have invested. However, later down the line, after the project starts its development properly, Kling plans to search for additional investors. Additionally, he will also add $15 million on November 1st, according to the reports. Eventually, by the time the mid-2019 arrives, Kling hopes that the fund will grow and expand to around $100 million. He even expects Ikigai’s venture branch to rise to $33M in capital invested. As for the foreign investors interested in the fund, they will be capable of allocating capital through investment vehicle based on the Cayman Islands. A Multi-Trillion Asset Class? During one of his recent interviews, Kling stated that he truly believes in the project, as well as the concept, and those willing to back it. This, more than anything, indicates that the project is more than just an attempt to generate large profits. Kling stated that he expects this to become a multi-trillion asset class that will expand to touch everyday life. He stated in an interview: It’s still very early, but the development and growth of this technology will be exponential. The firm will have a 13-person team that is said to be located in Los Angeles, while the fund will seemingly follow the regulations implemented by the Delaware government. Many believe that Ikigai’s launch will come on October 1st and that most of the allocated capital will remain in cash, at least at first. This is due to the fact that the investors are still trying to find a secure way into the crypto world. The post Institutional Investor: Crypto Will be Worth Trillions, Launches Hedge Fund appeared first on NewsBTC.

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