Largest bitcoin exchange in japan Bitflyer Prepares for US Launch

in #bitcoinexchange4 years ago (edited)

The bitcoin exchange bitFlyer announced plans to start operations in the United States.

BitFlyer based in Tokyo, Japan's biggest bitcoin exchange by negotiating volume and one of the largest in the world, has now opened an office in San Francisco ahead of its launch in the country in the fall of 2017. Notably , the exchange revealed that it has already obtained approval to operate in 34 states in the country. The exchange will allow customers to buy and sell the bitcoin through its wholly owned subsidiary, bitFlyer USA Inc.

Highlighting its US expansion as the first incursion of the bitcoin exchange beyond the borders of Japan, CEO Yuzo Kano's bitFlyer exposed:

"While Bitflyer, Inc. is headquartered in Japan, my vision was always to create a global company, and I am excited that the US will be its first step toward global expansion. Bitcoin is a global currency, now our exchange will be global too."

The announcement of the expansion of bitFlyer comes in a few weeks of bitcoin exchange based in Hong Kong Bitfinex announcement plans to leave the EU market quoting a stimulating regulatory landscape among a number of other non- Other factors. For bitFlyer, a currency exchange platform that has seen $ 30 billion in bitcoin trading so far this year alone, the expansion coincides with "Mrs. Wantanbe" rise - the retail investor class in Japan becoming Increasingly a major foreign currency trading as a way to combat low interest rates in Japan.
Last year, bitFlyer raised ¥ 3 billion ($ 27 million) in a C-Series funding around, raising more than $ 35 million in financing so far. The financing helped bitFlyer develop its own domestic blockchain payment platform called 'miyabi'. A first pilot at the end of 2016 saw a number of major banks test the platform with results surpassing the traditional banking system technology. Indeed, come February 2017, all three 'megabanks' of Japan represented as investors in bitFlyer.
By targeting professional and institutional traders initially, bitFlyer will offer BTC / USD trader at launch. The exchange also revealed plans to support "other pairs of trade and products" in the future.

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