While the crypto market is going through a bearish phase, some cryptocurrency exchanges are finding time to expand their business. Coinbase has recently expanded into institutional investments, better support for altcoins and local currency support in non-US territories. Bittrex is also keeping itself busy. The exchange announced on Monday that it is establishing an international division. The new entity named Bittrex International will manage the global businesses of Bittrex outside the US.
Bittrex Explains How Things Will Work
According to a new post on its website, Bittrex suggests:
“The mission of Bittrex International is to be a driving force in the blockchain revolution, increasing adoption of this innovative technology around the world. The company will own and manage Bittrex’s international businesses.”
However, this is not the only new entity that Bittrex is establishing. Bittrex International, in turn, is laying the foundation of Bittrex Malta Ltd., a new digital currency trading platform in Malta. The new exchange will borrow Bittrex’s advanced, secure and reliable trading technology to provide innovative coins and tokens with more exposure on the platform. These assets can use the new platform to build trust and get larger global exposure.
Bittrex CEO Shares a Promise for the Future
Bittrex CEO Bill Shihara talked about the platform’s future. He said:
“At Bittrex, we’re using our secure, reliable and innovative platform technology to power the blockchain revolution.”
He added that the company is working with an increasing number of partner exchanges globally. He said that the exchange is making blockchain and crypto trading more accessible around the world. The mission of the exchange is to find new innovative projects and list them on its platforms.
The exchange also notified that each of the “innovative” blockchain assets listed on the exchange would be available for partner exchanges, if consistent with the local laws of the exchange’s home territory. Bittrex Malta enjoys crypto-friendly regulations as it is governed by liberal crypto laws in Malta and regulations of the European Union. The EU recently clarified during a meeting of finance ministers held in Vienna that it doesn’t intend to hasten the crypto regulation process.