The Second Largest Exchange OKEx Will Join Binance on Malta's Blockchain Island

The tiny Mediterranean island of Malta is fast becoming a mecca for the blockchain industry.

Just three weeks after Binance announced their intention to set up an operational base in Malta, the world's second largest crypto exchange, OKEx, has said that it intends to expand operations to the island.

OKEX Technology Company Limited is proud to announce that it will be expanding to Malta.

We are confident in the Malta government's approach and decided to make Malta a foundation for further OKEx growth.

The statement expressed the enthusiasm of OKEX - saying that they are eagerly anticipating joining the quickly growing Malta Blockchain community, which will see a big event in October with the government-sponsored DLT Delta Conference.

The final sentence even seems to suggest that further expansion in the European continent might be possible, suggesting that Malta could serve as a strategic base for expansion.

Using the motto "Blockchain Island," Malta has promoted itself as a crypto-friendly destination in a bid to make itself an attractive jurisdiction for this new industry.

In February, they released a document entitled "Malta - A leader in DLT Regulation," which presented a conceptual framework for DLT technologies to become certified in Malta, and proposed legislative developments including the establishment of the Malta Digital Innovation Authority - which will focus on encouraging growth in the space and protecting the public.

As the second most prominent exchange, OKEx handles over a billion dollars worth of trades every day, offering token trading, spot, and futures trading.

Which exchange will be next to relocate to Blockchain Island? Only time will tell.