A new 2,000 square metre campus in Gżira intended for blockchain companies was inaugurated by Prime Minister Joseph Muscat on Monday evening.

The Chiliz Blockchain Campus hosts a company of the same name which is developing a fan token platform in collaboration with football clubs like Juventus, Paris Saint Germain and West Ham.

It also houses cryptocurrency exchanges and service providers, with partnerships with leading blockchain accelerators and hubs across Europe and Asia.

“The fact that this government not only encourages innovation, ideas and investment in intangible assets but has been as the main facilitator is, in my view, one of its key characteristics and a prime reason why we are witnessing this economic and social growth on the island", said Dr Muscat.

Parliamentary secretary for innovation Silvio Schembri noted how Chiliz had grown its staff members from 12 to 50 over the span of a year and said the campus was evidence of Malta’s determination to develop its blockchain sector.

Dr Schembri urged local banks to help blockchain businesses get off the ground, saying they should "step up their game, adapt and adopt to this ever-changing scenario". 

Banks have been especially reluctant to open accounts for companies in the sector, and earlier in the week a stakeholder told Times of Malta that the country was losing business to rival jurisdictions such as Estonia.

Chiliz and Socios.com CEO Alexandre Dreyfus said Malta’s willingness to regulate the blockchain sector had allowed the company to attract companies to the island.