Following announcements earlier this month of Binance moving its headquarters to Malta, the world’s leading crypto exchange has now confirmed plans to support a fintech startup project. The Malta Stock Exchange (MSE) has teamed up with Binance for the program, which is designed to support new fintech and blockchain initiatives.

Dubbed the MSX Fintech Accelerator, the program will provide an initial 12 applicants with use of the MSE’s facilities, including accounting, payroll, conference rooms, training and communication services. Applicants will be mentored by volunteers from leading organizations such as Thomson Reuters.

MSE Chairman Joseph Portelli was quoted as saying the project will help bring products to the market faster and is offered to both foreign and local organizations. Binance confirmed the support, praising MSE’s provisions to help startups grow “in what is otherwise a highly competitive industry”.

In addition to the project, Binance has opened a bank account in the country and has plans to launch a Malta-based cryptocurrency trading platform to allow crypto-fiat trading.

The plans were announced by the Malta Stock Exchange on Twitter:

Image From Shutterstock