Categories: CryptoNews

BitBay Migrates to Malta to Continue Offering Cryptocurrency Exchange Services

Various cryptocurrency companies have made the move to Europe in the past few months. This is not entirely surprising, as Europe has a relatively open mind when it comes to cryptocurrencies and blockchains. BitBay, the Polish exchange, is now moving to Malta.

Another Company Moves to Malta

It has become apparent that Malta is the go-to place to set up a cryptocurrency company office. Various firms have made the move in the past few months, and it seems this momentum will not be slowing down anytime soon. That is a positive trend, as Europe

has been far too quiet on the cryptocurrency front over the past few years.

The ‘exodus to Malta’ trend suddenly got a lot of attention when Binance announced that it wanted to set up shop in this particular country. While that was good news for the exchange itself, Binance also made it clear that it wanted to create a lot of jobs in the country. Moreover, the Maltese government announced that it will welcome other cryptocurrency companies as well.

The latest firm to make the move is BitBay. Although most people may have forgotten this Polish cryptocurrency exchange existed, the firm has made a name for itself in Poland over the years. This shows that other European countries haven’t given up on Bitcoin and other cryptocurrencies. Europe needs some positive financial news these days, as the eurozone is in a state of flux.

Related Post

BitBay’s sudden move

to Malta is easy to explain. The firm relies on a Polish bank partner to perform its operations. Unfortunately, it seems the banks in Poland are no longer interested in working with this company for some reason. As such, the company had few options left on the table, and moving to Malta seemingly made a lot of sense.

Until this transition is completed, users will have to deal with limited functionality on the BitBay platform. As of today, PLN-based transactions will no longer be possible. Additionally, all trading activity on BitBay Poland will be suspended as of September 17.

It will be possible for individuals to set up new accounts once the company has moved to Malta, and all of the features and tools will remain the same. The Polish branch of this firm will continue to exist for quite some time to come, although it will no longer be involved in any cryptocurrency exchange operations moving forward. It’s an interesting development that will strengthen the cryptocurrency industry as a whole.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

WIF Set to Overtake BONK? Lunex Soars with 100x Potential in Altcoin Season

As altcoin season heats up, all eyes are on the rising stars—especially Lunex, which is…

3 hours ago

Binance Coin Price Dips: BNB Holders Rush To Lunex Presale To Hedge Their Long Positions

While the broader market witnessed a notable upward movement, Binance Coin (BNB) experienced a decline…

3 hours ago

Crypto Stalwarts Forecasted 800% Growth in Innovative Projects: VeChain, Rollblock and Polkadot!

This blazing crypto bull run has investors looking for the next top altcoins set to…

3 hours ago

Dogecoin Price Set To Recreate 36,000% Rally From 2021 After Pennant Formation

The Dogecoin price is back in the limelight, captivating the crypto world with its recent…

3 hours ago

Is XRP About to Explode? How Trump’s Victory Is Affecting XRP Price Amidst JetBolt Growth

Ripple’s XRP showed a 68% price increase in the last 7 days following Trump's victory,…

3 hours ago

Ethereum Down While Bitcoin, Solana, and JetBolt Skyrocket In End November 2024

Ethereum stumbles as Bitcoin surges past $97K, Solana eyes new highs, and JetBolt’s presale shakes…

6 hours ago