According to media reports, a leading crypto exchange, Bitrex has just bought 10 percent shares in Malta-based Blockchain, commonly named as Palladium.
Maltese Prime Minister, Joseph Muscat launched Palladium with fanfare in July during the event, he delivered a speech too.
The technology used behind the Bitrex, is aimed to empower and build, crypto trading platforms to provide security and reliability.
The founder and Chairman of Palladium, Prof. Paolo Catalfamo while speaking to reporters stated that the most recent development emphasized the significance of working with Malta to give a fully regulated blockchain space.
He further stated that “Palladium has designed elegant and unique solutions to the largest problems facing blockchain technologies today, allowing it to provide a unified banking, investment and crypto interface within full regulatory compliance in the EU.”
Rahul Sood, CEO, Unikrn and a member of the board at Palladium stated that investment by Bitrex was one of the important aspects of the venture. Unikrn has 15% share in Palladium.
“Palladium will offer some of the most meaningful solutions to companies like Unikrn and other blockchain platforms, super simple access to our tokens from anywhere at anytime, the ability to bank crypto and fiat, and the option to offer securities down the road.”
Palladium made the news a month ago after it launched one of the world’s first completely controlled tokenised convertible warrant to give investors peace of mind and a stake in the future of virtual currencies.
Prime Minister Muscat described this development as the move towards to make Malta ‘Blockchain Island’.
Bittrex, which was established in 2014 by three cybersecurity engineers, gives continuous exchange execution, advanced wallets and industry-leading security practices.