2018-9-4 17:19 |
As blockchain technology has started to show promise, acquisitions, mergers, and collaborations are becoming common in the corporate world. Bittrex, a US-based cryptocurrency exchange, is also investing in blockchain. The exchange recently acquired a 10-percent stake in the blockchain company Palladium. As one of the pioneers of the blockchain and crypto revolution and one of the largest exchanges in the world, Bittrex’s investment could be rocket fuel to the Maltese company that intends to make an impact.
What Makes Palladium an Attractive Investment?Palladium is a well-known blockchain entity that gained global attention recently when it launched the first fully regulated tokenized convertible warrant in the world. This warrant could help investors safely invest or transact in cryptocurrencies without worrying about an uncertain future. It allows investors to convert their tokens into Palladium shares, three years after the issue of a warrant. The issue of the warrant is subject to strict EU regulations and is regulated by the Malta Financial Services Authority.
Speaking on the company’s partnership with Bittrex, Palladium founder, and chairman Paolo Catalfamo said:
“We are excited to have such a global player on board. Bittrex’s investment in Palladium is a confirmation of Malta’s sound decision to be at the forefront of regulating blockchain technology.”
The Effect on MaltaSeveral cryptocurrency companies are migrating to Malta because of clearer regulations and the country’s vision to become “the Blockchain Island.”
With Palladium’s stakeholding shuffle, Bittrex can now register its strong presence in the European region with a 10-percent holding. Investar Holding currently holds Palladium’s majority shares. Investar is a holding company fully owned by Catalfamo. It owns 85 percent of the shares, while 15-percent of its shares are held by Unikrn, a Las Vegas based eSports leader founded by former Microsoft Ventures CEO Rahul Sood. The Maltese vision of “The Blockchain Island” can come to fruition with deals like this.
Palladium previously announced that it would conduct the world’s first initial convertible coin offering (ICCO) in association with Bittrex and Unikrn, in which it will seek to distribute tokens worth $150 million. About 15 percent of the accumulated funds from the ICCO will be used for creating a regulated cryptocurrency exchange in the country.
Bittrex Buys a 10-Percent Stake in Malta-Based Blockchain Company Palladium was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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