BitFlyer opens the world’s largest JPY and BTC market in the US
2 min readTL;DR Breakdown
• Bitflyer is approved in Japan, the United States, and Europe.
• The platform controls 40% of crypto transactions in Japan.
Bitflyer, the largest cryptocurrency exchange, opens to accept BTC and Japanese yen. This trading option will be available to all citizens in the United States. With this trading system that crosses borders, the platform will enter a regulated JPY market that will benefit the adsorption of BTC.
The platform is the leader in Japan, destined for cryptocurrency businesses. This platform manages the BTC/JPY trading well since 2014, the date of its foundation.
BytFlyer indices in cryptocurrency trading
For the first quarter of 2021, BTC/JPY trading registered an index of $30 billion in trades. This figure represents over 40% of the Japanese volume in using BTC. Bitflyer is a trend for all those young entrepreneurs in the country who want to trade with BTC.
The platform’s influence has expanded beyond the limits of Japan. The yen market it shares is equal to or even more significant than the BTC/USD market. Compared to Kraken, Bitstamp, or Gemini, the platform is significant in the crypto industry.
Cryptocurrency popularity in Japan
In the last two years, Japan has been the second-largest market dedicated to the cryptocurrency business. Japan and its crypto movements are behind the trades generated with US dollars. Many platforms have adopted cryptocurrencies as an investment method and to purchase without problems.
The director of operations at Bitflyer USA, Joel Edgerton, said this new merger with the American market helps the company grow. Edgerton adds that opening the BTC/JPY market in the United States will improve the relationships’ exchange platforms. BTC can now connect between two financial platforms, giving many advantages to the traditional investor.
Bitflyer USA will expand into new cryptocurrencies in a legal and orderly manner. The platform also wants to reduce the problems that some exchange systems present today.
As Bitflyer is the first exchange system to be approved in Japan, the United States, and Europe, it does not go unnoticed by the regulators. The platform agrees with the rules indicated by these officials so that cryptocurrencies can be traded. The exchange system will expand into Central America, Latin America, or other territories where the crypto market is absent.
The platform is proud to be approved in the United States and hopes to do its best. The exchange system will operate its headquarters in San Francisco, California.
The platform operates in 49 states in North America, including New York. In the coming weeks, Bitflyer may reach other states in the country.
