Leading cryptocurrency exchange Binance is extending support to a startup accelerator program launched by the Malta Stock Exchange, Finance Magnates reported.

The MSX FinTech Accelerator Programme aims to support fintech and crypto startups by offering services and facilities like in-house accounting services and payroll, office space, state of the art communication, conference rooms, and a training center. It will also mentor the companies to compete with their international counterparts. Thomson Reuters and Binance will be mentoring the startups.

“It is clear that Malta is becoming a Fintech and blockchain center of excellence and we want to allow local and foreign companies the ability to bring their ideas to the market faster. This programme offers foreign entrepreneurs easy access to a readymade solution at one of Malta’s most prestigious addresses – the Malta Stock Exchange,” Joseph Portelli, chairman of the Malta Stock Exchange, said.

Earlier in March, Binance announced its plans to set up its operations in Malta. More recently, the company said that it will launch a new cryptocurrency exchange that will facilitate crypto-fiat trading.

“We moved our operations to Malta precisely because it has demonstrated its progressive approach to supporting and developing the crypto and blockchain industry. Malta is creating a safe and legislated environment for the industry to become reputable, attracting companies like ours and many others. The Malta Stock Exchange reflects these values, providing the infrastructure for entrepreneurs and start-ups to flourish in what is otherwise a highly competitive industry,” a Binance spokesperson added.