BitFlyer is gaining steam as a top cryptocurrency exchange with daily volume of over $300 million. More to the point, it carries eighty percent of the Bitcoin trading volume in Japan, which is one of the world’s largest cryptocurrency markets.
BitFlyer offers trading directly in fiat currency but only carries Bitcoin Cash, Ethereum, and Bitcoin Core.
The crypto-exchange has been given a payment institution license from the Luxembourg regulator for the E.U, building upon its regulatory approval in Japan.
According to a report, BitFlyer is the sole licensed exchange in Europe granting traders access to one of the world’s largest cryptocurrency markets.
Founder, CEO Yuzo Kano told CryptoBuzz:
“When I established BitFlyer in 2014 I did it with worldwide ambitions and the belief that regulatory status is fundamental to the long-term future of Bitcoin and the digital currency industry as a whole. I am very proud that we are now the most compliant digital currency exchange in the world; this regulatory status gives our users our company and the digital currency industry as a whole a very positive future outlook.”
Expansion On the Horizon
The move has been met graciously by industry professionals as well as investors of all stripes. Cedric Jeanson, CEO of BitSpread, one of the largest digital currency market-makers told CBNN:
“We’re thrilled to see BitFlyer in Europe. As cryptocurrency trading becomes more mainstream and investors get involved, there will be a gap in Europe for a platform that specifically caters to the professional market for such things.”
BitFlyer will only offer trading of BTC/Euro pairs but stated that it planned to support other digital currencies such as Ethereum & LiteCoin as well as more fiat currencies in the months to follow.