Bitcoin exchange bitFlyer launches in Europe

bitFlyer, the Tokyo-based operator of a Bitcoin exchange, today announced its launch into Europe. Having been granted a Payment Institution (PI) license to operate in the European Union, it has become the first Bitcoin exchange to be regulated in Japan, the US and Europe.

Andy Bryant

The European launch comes on the heels of explosive growth in Japan and launch in the US in 2017. With 25 per cent of worldwide bitcoin exchange volumes being facilitated by bitFlyer and more than $250 billion in virtual currency traded on its platform in 2017, bitFlyer is the world’s largest Bitcoin exchange (and the only one licensed in Europe) allowing users to trade with Japan, the world’s largest market for bitcoin trading.

Initial targets are professional, high-volume traders, an audience currently underserved in Europe.

“What we bring to Europe is a platform designed by traders for traders,” European COO Andy Bryant said. “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.”

Based on the latest volumes, roughly €10 billion is traded worldwide in bitcoin per month, making Europe the third largest bitcoin market in the world, after JPY and USD.

“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,” CEO Yuzo Kano said. “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.”

bitFlyer was granted its Payment Institution license by the Luxembourg regulator, Commission de Surveillance du Secteur Financier and from the company’s base at The Luxembourg House of Financial Technology Foundation, it will market its platform in the European Union.

“We’re delighted that one of the most successful Japanese startups chose Luxembourg as their EU platform,” says Pierre Gramegna, the Luxembourg Minister of Finance.

bitFlyer’s initial product offering is the BTC/EUR pair. The company plans to add support for other virtual currencies such as Litecoin, Ethereum, Ethereum Classic and Bitcoin Cash later in the year.

bitFlyer Europe is offering zero percent trading fees as an introductory promotion until the end of February 2018. To learn more and start trading, please visit: www.bitflyer.com/en-eu/.

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