Japan’s leading cryptocurrency exchange Bitflyer has launched in Europe after obtaining a license to operate in the European Union. The exchange currently supports BTC/EUR trading, with a plan to add other cryptocurrencies later on this year.
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Bitflyer Launches in Europe
Bitflyer announced its European exchange launch on Monday. Its announcement states:
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, making it the most compliant virtual currency exchange in the world.
The company’s European exchange, headquartered in Luxembourg, was launched through Bitflyer Europe S.A., a wholly-owned subsidiary of the Tokyo-based Bitflyer Inc. The company has been granted a PI license by the Luxembourg regulator, Commission de Surveillance du Secteur Financier (CSSF).
Pierre Gramegna, the Luxembourg Minister of Finance, commented, “We’re delighted that one of the most successful Japanese startups chose Luxembourg as their EU platform.”
Bitflyer CEO Yuzo Kano with Luxembourg Minister of Finance Pierre Gramegna. (Photo: Business Wire)
More Cryptocurrencies Coming Soon
For the grand opening, Bitflyer is offering zero percent trading fees until the end of February. According to its announcement:
The company is initially targeting professional, high-volume traders, an audience currently underserved in Europe.
At launch, Bitflyer Europe will support the BTC/EUR trading pair. The company plans to support other cryptocurrencies such as litecoin (LTC), ether (ETH), ethereum classic (ETC) and bitcoin cash (BCH) later in the year.
Bitflyer Europe plans to market its platform across the EU from its base at the Luxembourg House of Financial Technology Foundation.
“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 and founder, Yuzo Kano.
In Japan, Bitflyer was among the first 11 exchanges to obtain a license from the Japanese Financial Services Agency (FSA) in September of last year. The exchange currently has nearly 1 million users, its website details.
The company opened up an exchange in the US in November after obtaining licenses to operate in 41 states, including New York. Connecticut, Hawaii, Illinois, Louisiana, Massachusetts, Minnesota, Nevada, West Virginia, and Wyoming are “coming soon,” according to its website.
What do you think of Bitflyer launching in Europe? Would you use it? Let us know in the comments section below.
Images courtesy of Shutterstock, Business Wire, and Bitflyer.
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