New Banks In Malta Likely To Embrace Blockchain

Two or three banks in Malta that are to open within a year will likely embrace Blockchain and cryptocurrencies, says banking expert Roderick Psaila.

“We are already seeing new, smaller banks show willingness to adopt Blockchain technology, but legacy banks will take longer to come round, because of their systems in place and because they tend to expect higher standards,” he said during Delta Summit today.

James Farrugia, a partner at Ganado Advocates, said that banks are waiting for a “solid anti-money laundering framework” before embracing cryptocurrencies.