Overseas Expansion: Japan – s BitFlyer to Sell Bitcoin ter US Market
Japanese bitcoin exchange bitFlyer is heading to the U.S.
The exchange has opened an office ter San Francisco, and representatives of the company said bitFlyer has obtained approval to operate ter 34 states when it launches. It’s not clear when exactly the exchange launch will take place, but bitFlyer said it’s committing to sometime ter the Fall of .
CEO Yuzo Kano said ter a statement:
“While bitFlyer, Inc. is headquartered te Japan, my vision wasgoed always to create a mundial company, and I am excited that the U.S. will be its very first step toward general expansion. Bitcoin is a integral currency, now our exchange will be total too.”
It’s a importante development given the complicated nature of the U.S. regulatory landscape – te which regulators ter each state have their own licenses and oversight regimes – and the relative lack of fresh, major bitcoin exchanges opening their doors to American customers. What’s more, the shove by some states, like Washington to increase oversight of cryptocurrency trading activities has led some exchanges to pull out of those markets entirely.
BitFlyer said it plans to primarily launch markets for bitcoin trading, albeit it suggested more cryptocurrency integrations will be coming te the future. The purpose, the exchange indicated, is to “expand to support other trading pairs and products” overheen the course of next year.
The startup raised harshly $27 million te a Series C funding round last year, and to date it has garnered more than $34 million ter venture caudal.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake ter bitFlyer.
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