Bitcoin Exchange BitFlyer Receives License in Europe

Announcements, News, Regulation | January 23, 2018 By:

Tokyo-based bitcoin exchange bitFlyer has officially launched its services in Europe after being granted a Payment Institution license (PI) to operate legitimately in the EU.

Founded in 2014, bitFlyer is Japan’s largest bitcoin exchange by trading volume and one of the largest in the world. The exchange claims to have facilitated over $40 billion in bitcoin trades, $30 billion of which happened this year. It supports multiple digital currency trading pairs, including ether and Bitcoin Cash.

BitFlyer has already been registered as a digital currency exchange by Japan’s Financial Services Agency. In November, the exchange has been approved to operate in 41 US states, including a “BitLicense” from the New York State Department of Financial Services (NYDFS). The granting of the EU license has made bitFlyer the “world’s most compliant’ cryptocurrency exchange.” It is the first bitcoin exchange to be regulated in Japan, the US, and Europe.

The exchange said it will begin its operations in Europe by offering BTC/EUR, and will add support for some of the world’s other largest cryptocurrencies by market cap later this year. The exchange is initially targeting professional, high-volume traders, an audience currently underserved in Europe.

“What we bring to Europe is a platform designed by traders for traders,” said bitFlyer Europe COO Andy Bryant. “Through our web interface or API, traders can get up and running quickly and benefit from some of the most robust systems, highest speeds, and an interface designed with their specific needs in mind.”

“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,” said bitFlyer CEO Yuzo Kano. “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.”