BitFlyer, Japan’s Largest Bitcoin Exchange, Now US Licensed

Announcements, News, Regulation | November 29, 2017 By:

Tokyo-based bitcoin exchange bitFlyer has officially launched its operations in the United States.

The exchange has been approved to operate in 42 states, including a “BitLicense” from the New York State Department of Financial Services (NYDFS). bitFlyer is the fourth crypto company to obtain a BitLicense and the first exchange from overseas to do so. bitFlyer USA’s new office is based in San Francisco.

“bitFlyer is proud to have been granted a BitLicense to do business in the state of New York,” said bitFlyer CEO Yuzo Kano. “This is a nod of approval from one of the most influential state financial services regulators in the nation.”

BitFlyer has already been registered as a digital currency exchange by Japan’s Financial Services Agency and it now legally operate as a money transmitter and digital currency exchange in the US. bitFlyer USA currently offers BTC/USD trading. The exchange plans to support other trading pairs and products in the future.

“Our expansion and upcoming cross-border trading addresses a huge unmet need in the US by institutional traders looking to access large amounts of liquidity across multiple virtual currency markets,” said bitFlyer USA’s COO Bartek Ringwelski. “Through our web interface or API, approved professional traders can be up and running and making trades in a matter of minutes.”

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.