Japanese Bitcoin Exchange bitFlyer Prepares for US Launch
5 stars based on
41 reviews
Japanese exchange bitFlyer, the largest bitcoin startup in its home country, announced Friday that it plans to expand to the United States by opening a San Francisco-based exchange in the fall of The company lined up a banking partner in the U.
Getting and keeping a bank account was once one of the biggest challenges for crypto exchanges; financial institutions saw too much reputational and regulatory risk in having anything to do with a leaderless, bordlerless internet currency.
Strict compliance with know-your-customer and other bitcoin exchanges state of themarket requirements is a must for any exchange to get and stay banked. Bitcoin is a global currency, [and] now our exchange will be bitcoin exchanges state of themarket too. The initial version of the U. But it will be open to retail investors as well, provided they live in one of the 34 states where bitFlyer is approved to do business.
New York, whose regulatory regime for digital-currency businesses is the most stringent in the U. There is another limitation of bitFlyer USA, as the new operation is known. While the Japanese exchange supports trading in multiple cryptocurrencies—including Bitcoin Cash, a new digital coin that resulted from a "fork" of the original in early August—the American platform will be limited at launch to simple bitcoin-to-dollar and dollar-to-bitcoin trades.
But bitFlyer intends to add support for other assets, and continue to pursue expansion into the remaining U. Watanabe' in the Japanese forex market; she is the personification of household trading bitcoin exchanges state of themarket Japan," said bitFlyer's chief operating officer, Bartek Ringwelski. The initial version of bitFlyer's U. But it will also be open to retail investors who live in one of the 37 states where bitFlyer can do business.
Partner Insights Sponsor Content From: Bitcoin and the Fight for the Future of Finance. Cryptocurrencies 'could have a role' in investor portfolios. Comment Start the Conversation, Login. Like what you see? Make sure bitcoin exchanges state of themarket getting it all Independent and authoritative analysis and perspective for the banking industry.
