World’s Largest Bitcoin Exchange From Tokyo bitFlyer: Enters US Market

Bitcoin Exchange

Tokyo-based bitcoin exchange bitFlyer has officially obtained a license to operate in New York and 40 other states. BitFlyer plans to offer zero percent trading fees in the U.S. through the end of the year.

On Tuesday, BitFlyer announced that it became the fourth digital currency exchange to receive a “BitLicense” to operate in New York. The Tokyo-based exchange said it also has licenses to operate in 40 other states.

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Currently, there are only three exchanges with a “BitLicense”, which is granted by New York’s Department of Financial Services. They are Coinbase, Circle, and Ripple.

Specifically, bitcoin trading in Japanese yen accounts for 60 percent or more of global trading volume in digital currency. Of that total volume, BitFlyer embodies nearly 80%.

BitFlyer’s U.S. COO, Bartek Ringwelski stated: “Bitcoin in 2018 transitions from something that is viewed as a social phenomenon and very quickly transitions into an established institutional phenomenon.”

To date, the exchange has raised $36 million in venture capital.

Featured Image: twitter

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