bitFlyer Launches in Europe and Becomes the World’s First Bitcoin Exchange to Be Regulated in Japan, the US and Europe

23-Jan-2018 Intellasia | BusinessWire | 7:01 AM Print This Post

Granted Payment Institution License to Operate in the EU

LUXEMBOURG–(BUSINESS WIRE)–bitFlyer, the Tokyo-based operator of the world’s largest1
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, making it the most compliant virtual currency
exchange in the world.


bitFlyer’s launch into Europe comes hot on the heels of explosive growth
in Japan and launch in the US in 2017. With 25 percent2 of
worldwide bitcoin exchange volumes being facilitated by bitFlyer and
over $250bn in virtual currency traded on its platform in 2017, bitFlyer
is the world’s largest Bitcoin exchange and the only one licensed in
Europe that will allow users to trade with Japan, the world’s largest
market for bitcoin trading.

The company 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,”
says Andy Bryant, Chief
Operating Officer of bitFlyer Europe. “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 volumes3, roughly €10bn is traded
worldwide in bitcoin per month, making the Euro the third largest
bitcoin market in the world, after JPY and USD. “We’re pleased to see
bitFlyer landing in Europe,”
says Cedric Jeanson, CEO of BitSpread,
one of the world’s largest digital currency market makers. “As
virtual currency trading becomes mainstream and institutional investors
get involved, there is a gap in Europe for a platform which specifically
caters to the professional market.”

Speaking about the importance of today’s announcement, founder and CEO
of bitFlyer and ex-Goldman Sachs trader, Yuzo Kano, said, “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. 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 (CSSF) and
from the company’s base at The Luxembourg House of Financial Technology
Foundation (The LHoFT), 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/.

About bitFlyer EUROPE S.A.

bitFlyer EUROPE S.A. is a wholly-owned subsidiary of bitFlyer, Inc., a
leading Bitcoin and blockchain company based in Japan. The European
office is located in Luxembourg and operates an exchange platform for
European traders to buy and sell bitcoin. bitFlyer EUROPE S.A. corporate
site: www.bitflyer.com/en-eu/.

About bitFlyer, Inc.

bitFlyer, Inc. is the largest Bitcoin and blockchain company in Japan,
and has raised over 4.1 billion yen (~$36 million) in venture capital
funding. bitFlyer aims to revolutionize the FinTech sector using
blockchain technology. Its work includes operation of the bitFlyer
integrated virtual currency platform, in-depth blockchain research, and
the R&D of its original blockchain miyabi. bitFlyer,
Inc., corporate site: www.bitflyer.com.

____________________

1 Reference – https://www.coinhills.com/market/exchange/rank-for/btc/

2 Reference – https://www.coinhills.com/market/exchange/rank-for/btc/

3 Reference – https://www.coinhills.com/market/currency/

 

Contacts

Tyto
Zoe Clark, +44 7833 474 447
FS and Fintech Practice Lead
[email protected]

 


Category: BusinessWire, PRAsia

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