Japanese Exchange BitFlyer Gets Green Light to Operate in Europe

Japanese Exchange BitFlyer Gets Green Light to Operate in Europe

Japanese virtual currency exchange BitFlyer has been approved to operate in Europe. The popular Tokyo exchange has secured a PI (Payment Institution) license from Luxembourg regulator Commission de Surveillance du Secteur Financier to offer trading services in the European Union.

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BitFlyer Steps Toward Globalization

Per a recent report from Financial Times, a quarter of the global bitcoin trade is executed by BitFlyer, and now the exchange has received the regulatory go-ahead to set up shop in Europe. The move comes after the firm already began operating in the U.S. last November.

BitFlyer CEO Yuzo Kano was ecstatic:

“When I set up BitFlyer in 2014, I did so with global ambitions and the belief that approved regulatory status is fundamental to the long-term future of Bitcoin and the virtual currency industry. I am proud that we are now the most compliant virtual currency exchange in the world; this coveted regulatory status gives our customers, our company, and the virtual currency industry as a whole a very positive future outlook.”

Accordingly, Kano’s exchange will now offer European crypto traders an opportunity to trade with and against the biggest virtual currency market — Japan.

To start, the BTC/EUR trading pair will be provided. However, in coming months, the exchange intends to introduce other digital currencies such as ether and litecoin.

Bitspread Welcomes BitFlyer’s Entry

Cedric Jeanson — CEO of cryptocurrency exchange Bitspread — has welcomed their Japanese peers’ move into Europe, saying:

“We’re pleased to see BitFlyer landing in Europe. As digital currency trading becomes mainstream and institutional investors get involved, there is a gap in Europe for a platform which specifically caters to the professional market.”

BitFlyer

The question is, can BitFlyer beat out traditional European providers to become a top — or the top — exchange on the continent? Time will tell.

Could BitFlyer’s entry to Europe be a game changer, or will it just provide another option? Let us know what you think below. 


Images via LinkedIn, synisys

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