It has today been approved by the Luxembourg Financial Supervisory Commission de Surveillance du Secteur Financier. So they will be based both in Japan, USA and in Europe.
According to an official statement, the largest Japanese crypto exchange BitFlyer will expand to Europe. The planned expansion into tax-friendly Luxembourg will bring further growth to the Japanese stock market. Initially, the offer of the stock exchange is limited to the currency pair BTC / EUR. In addition, however, more cryptocurrencies such as Litecoin, Ethereum and Bitcoin Cash are planned later this year. The operators also want to issue new transaction fees to new customers as a start-up offer.
At the time of release, BitFlyer ranks sixth on the crypto exchanges in trading the world’s leading cryptocurrency Bitcoin, with a 24-hour trading volume of $ 279,125,000.
Founded in January 2014, the company has grown steadily. So BitFlyer was expanded in the US last November. It was the fourth stock exchange in the US to receive a license to trade in cryptocurrencies from the New York State Department of Financial Services. This international orientation strengthens its position in the cryptocurrency market and thus also increases its attractiveness for European investors. Here is an opposing movement to the current developments in South Korea hold on – which will ultimately prove to be more successful, shows the time.
Japan, crypto friend
In other areas, the land of the rising sun lately designed as relatively crypto-friendly. The chat app LINE has integrated cryptocurrencies into its payment system with 168 million users. The financial house Mitsubishi Trust and Banking even published insurance coverage for attacked crypto investors. Finally, it should be noted that Japan profited greatly from the Chinese ICO ban last year. Many young entrepreneurs emigrated from China to Japan to benefit from the crypto-friendly environment.