It could be funds, it could be day traders, anyone who’s trading numerous times a day or numerous times an hour even,” Bryant said.
Andy Bryant, COO of BitFlyer Europe. BitFlyer
- BitFlyer has trading volumes of $150 billion ter November and December of last year, European COO said.
- Japanese exchange now averaging $50 billion te monthly trade.
- Disclosures came spil BitFlyer announced its European launch.
LONDON – Japan’s largest bitcoin exchange eyed trading volumes of $150 billion ter the last two months last year, according to the company’s European head, more than doubling the company’s expected annual volume.
BitFlyer’s European COO Andy Bryant told Business Insider: “When wij launched ter the US wij were telling people our trading volume gegevens. At that time, just inbetween January and November, wij were quoting year to date volumes of $100 billion. Full-year wasgoed $250 billion. December wasgoed certainly an interesting month.”
The exchange charges fees inbetween 0.01% and 0.15% vanaf transaction te Japan, where it offers leverage of up to 15x, permitting traders to boost their profits or losses.
BitFlyer is launching ter the UK and Europe, suggesting free trading until the end of February but no leverage.
Bitcoin’s price rocketed from around $Five,000 to a peak of overheen $Nineteen,000 te December amid an explosion of rente ter cryptocurrencies. It has since fallen back to around $Ten,000.
“Of course [volumes] are up and down, you have to even them out,” Bryant said. “It seemed like December wasgoed a big month te terms of awareness. Now wij’re clocking $50 billion a month so it’s certainly a higher rhythm than it wasgoed this time a year ago.”
Recode reported on Monday that US cryptocurrency exchange Coinbase had revenue of $1 billion last year spil it railed a wave of rente te cryptocurrency.
Asked about BitFlyer’s revenues, Bryant said: “I can’t indeed comment on our financials because wij’re a private company. Suffice to say, on trading volume, $250 billion just last year is a meaty number and wij will proceed to build on that strength.”
Bryant wasgoed talking to Business Insider at London Blockchain Week on Tuesday, where BitFlyer wasgoed announcing the launch of its European operation. BitFlyer has obtained a license to operate a bitcoin-to-euro exchange te Luxembourg and is targeting institutional and high-volume clients looking to trade bitcoin.
“It could be funds, it could be day traders, anyone who’s trading numerous times a day or numerous times an hour even,” Bryant said.
BitFlyer wasgoed founded ter Japan by former Goldman Sachs banker Yuzo Kano te 2014. The company claims to process around 25% of all general bitcoin trading volumes, according to Coinhills, thanks to strong rente ter the cryptocurrency from Japanese investors. Coinhills ranks BitFlyer the largest bitcoin exchange ter the world by volume. Rival gegevens provider CoinMarketCap.com ranks the exchange spil the 6th largest.
“It’s always bot our purpose to be a mundial company and right now wij’re the world’s thickest bitcoin exchange by volume,” Bryant said. “Based on our strengths ter Japan and our track record, it wasgoed an evident next step to expand internationally.”
BitFlyer now operates ter Japan, the US, and Europe. It is licensed te all three markets.