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Europeans Forge Ahead in Accepting Cryptocurrencies and Blockchain Technology

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European crypto-payment firm Wirex just announced that it now offers Ripple alongside Bitcoin and Litecoin. Users can transfer payments from USD, GBP, and EUR into any of the three digital currencies. This is only the latest step forward for the European-based companies and countries. They are staking out a significant position in the future world of cryptocurrency trading, payments and blockchain technologies.

European Governments Host Global Crypto Exchanges and Blockchain Technology Firms

One example of how this plays out is in the small European Mediterranean island nation of Malta. The island recently gained the nicknamed “Blockchain Island.” It just welcomed the world’s largest cryptocurrency exchange (by 24 hour dollar volume transacted) Binance. The mega exchange heads to the island as it moves its headquarters from Tokyo to Malta. Additionally, this is a significant score for Malta. This is only one example of how Europe is pulling ahead with its attitude toward cryptos and also blockchain.

Back in May, Malta revealed that it has struck a partnership with the British blockchain company and platform Omnitude. Omnitude and Malta Public Transport will work together to improve the efficiency of the island nation’s network of public transportation. Malta has also worked closely with Learning Machine Technologies since 2017. This program helps vocational and higher-education students to retrieve and access educational records and transcripts utilizing blockchain technology.

Malta is not the only nation in the EU charting a competitive edge past other industrialized nations through crypto. In fact, other European nations embraced blockchain and cryptocurrencies even earlier than Malta. Lithuania is an excellent case in point. It has also rapidly transformed into another hub for cryptocurrencies. Estonia has come close to rolling out its own first-in-class national digital currency that the Estonians call Estcoin.

In the European Economic Area but not the EU, Switzerland is also making major strides forward. The wealthy neutral paradise in the Alps calls its regional province (canton) Zug, “Crypto Valley.” The U.S., Canada, and also Japan had better watch their proverbial backs. They are encountering stiff competition from the Europeans over who will lead the crypto revolution forward.

 

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