The popular US based exchange of Bittrex is aiming at expanding its reach across the globe with the launch of Bittrex International (previously known as Bittrex Malta). The new trading platform will undergo a testing and evaluation period for the next few weeks before opening its doors to international customers.
Faster Listing of Tokens
Bittrex International also aims at streamlining the process of approving tokens for listing on the platform. The team at the exchange wants to reduce the time for approvals to a few weeks. Traditionally, the process can take months before a token is approved for listing. Tokens and coins currently listed on the main platform of Bittrex.com, will also feature in the new exchange.
Bittrex CEO, Bill Shihara, added that their aim was to be part of the blockchain and technology revolution. There will be no listing fee on the new version. Mr. Shihara also added the following:
We are committed to being a driving force in the blockchain revolution by increasing adoption of this innovative technology around the world. Bittrex International’s more efficient token listing process, combined with our reliable, secure and advanced trading platform technology, will make it easy to quickly feature the newest, most innovative blockchain projects for our international partners and customers. And, because we believe it’s more important for token teams to invest their time and money in technology and business development, Bittrex International — just like Bittrex.com — will not charge a token listing fee.
Tokens to Be Listed, to Also Follow Malta’s Regulations
The listing of tokens will also adhere to Bittrex’s standard initial review process that evaluates the authenticity of the token as well as its quality. After passing the initial review, qualified projects will be directed to follow the process laid out by the Malta Virtual Financial Assets Act.
Bittrex International will also operate within the regulatory framework of not only Malta, but also the European Union. New users will have to undergo the usual KYC (Know Your Customer) procedures and Anti-Money Laundering reviews. Residents of the United States, will not have access to the new platform and are advised to continue using the parent platform of Bittrex.com.
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