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Bittrex expands to Liechtenstein as exchange embraces crypto-friendly market conditions

Mark Prestwood

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Source: Pixabay

The crypto-industry seems to be luring several countries into its ecosystem, one of them being Liechtenstein, a European country that is dwarfed by its continental counterparts in terms of both population and market size. The country recently passed laws such as the National Blockchain Act, in order to encourage secure crypto-adoption. In fact, one of the country’s prominent banks has even launched a crypto-trading platform recently.

In a more recent update, popular US-based cryptocurrency exchange, Bittrex, has revealed its intention to launch a new cryptocurrency exchange platform in Liechtenstein called Bittrex Global. According to a news portal, the latest digital asset platform would be officially launched in the city of Vaduz by the end of October 2019.

Back in May, the country passed a new act pertaining to digital assets and digital asset platforms, along with tokenization. The latest laws focused on enhancing security, while eliminating money laundering through cryptocurrencies. The addition of the latest platform into the country would require it be regulated under EU laws. Bittrex is reportedly looking forward to registering under the Trustworthy Technologies Act aka Blockchain Act.

The platform’s Chief Executive, Bill Shihara, further expressed his excitement about the launch of the new platform. He said,

“Bittrex International was innovative 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.”

Bittrex’s latest update follows the exchange shutting down its Malta-based European subsidiary, Bittrex International. The imminent platform would have the capability to shelter all clients of Bittrex International. Additionally, existing tokens on Bittrex International can petition for listing on the latest platform.

The latest exchange platform has delegated Kiran Raj as CEO and Stephan Stonberg as COO of Bittrex Global.

Mark is a full-time member of the Editorial team of AMBCrypto. With his five-year experience as a business editor for one of the largest dailies in the US, Mark brings sanity and order to our editorial team. Mark is a business major and loves building automotive parts when he's not working. Email him at [email protected] or [email protected]