Cryptocurrency exchange bitFlyer announced on Tuesday the launch of cross-border trading on its platform. bitFlyer reported that its users in Europe will be able to have access to bitcoin markets in Japan, while still using a European-regulated platform.
Launched in 2018, bitFlyer describes itself as a Bitcoin exchange and marketplace that is dedicated to providing its customers with convenient and exciting ways to buy, sell, and spend Bitcoins.
“Alongside JADA, the Japan Authority of Digital Assets, bitFlyer hopes to spread the usage of Bitcoin in Japan and around the world, making the process to buy, sell, and spend Bitcoins streamlined and seamless.”
bitFlyer further claimed it is now not only the first cryptocurrency exchange that is licensed to operate in Japan, the EU, and the U.S. combined but is also the first to facilitate this cross-border access to its prized JPY liquidity. The platform noted that users trading BTC/JPY via bitFlyer Europe will still be subject to the same European privacy policies and their rights will not be affected. Yuzo Kano, Founder of bitFlyer group and Chairman of bitFlyer Europe, added:
“bitFlyer’s objective has always been to create a truly global cryptocurrency trading platform that allows users to benefit from the scale, depth and liquidity of one, single marketplace. Liquidity is a constant challenge for cryptocurrency markets and is essential to ensure the future growth and sustainability of BTC and the cryptocurrency industry as a whole. Today’s announcement is a huge step forward in that regard.”
All bitFlyer entities are regulated to the highest standards according to their jurisdictions, meaning proper controls and compliance with local AML and KYC laws.