Why Gate chose Malta as its European crypto hub

Gate’s decision to base its European operations in Malta in 2018 was the result of a comprehensive evaluation of the continent’s emerging crypto landscape. Giovanni Cunti, CEO of Gate Technology Ltd – one of the world’s first cryptocurrency exchanges – explains the rigorous process behind the choice.

“It was the result of an in-depth analysis of the growing crypto landscape in Europe. We explored several jurisdictions across the continent analysing several elements: openness to crypto business, developed crypto regulation, governmental support, long term plans and a growing ecosystem of related services. Malta came first in this search.”

Providing further insight, Mr Cunti elaborated on the decision.

“You may recall that at the time, the country prided itself as the “Blockchain Island”. There were indeed a few elements that had to be still better developed, but the path forward was clear. Malta had started to develop one of the first, and most advanced, crypto regulations across the continent,” he continues.

Mr Cunti explains that by the end of 2018, Gate had also incorporated Malta, enabling the company to develop all necessary processes and procedures to operate as a regulated crypto assets service provider.

Following the announcement that Gate Technology Limited CEO received its MiCA license from the Malta Financial Services Authority (MFSA), Mr Cunti reaffirmed the company’s strong confidence in Malta’s regulatory framework when asked how it compares to other jurisdictions where Gate operates.

“The VFA framework can be considered one of the closer, if not the closest, to MICA regulation. This does not come out of nowhere: It is the results of years of work, when regulator put together the best minds in the sector in order to have what we have today.”

This alignment has proven to be a significant advantage for Gate. The company’s efforts to obtain and maintain its VFA Class 4 license closely mirrored the requirements for the MiCA CASP Class 3 license. “We only needed to conduct a gap analysis and collaborate closely with the regulator during the preparatory phase. At Gate, we approached this diligently and successfully secured our MiCA license in September,” he explains.

Beyond Gate’s own operations, the Gate Technology Ltd CEO believes that the company’s longstanding presence in Malta has had a broader impact on the local crypto ecosystem.

“Gate’s longstanding presence here has acted as a catalyst, encouraging several other crypto players to establish themselves in Malta in recent months. I’m confident more will follow, helping to make Malta an even stronger crypto hub.”

Looking ahead, Gate is firmly committed to Malta as its European home base.

“We, at Gate, are determined to continue operating from Malta as our main hub for MiCA and to expand our operations all across Europe. This was, is and will Gate’s home for Europe. We could not have chosen a better place than Malta. We are looking forward to our growth together.”