bitFlyer Opens BTC/JPY Trading Pair For US Customers
bitFlyer, the undisputed leader in the Japanese cryptocurrency market, has launched fully regulated services that allow US-based traders to buy and sell BTC/JPY trade pairs.
bitFlyer, Japan’s largest cryptocurrency exchange, licensed to operate in the US, EU, and Japan, has opened its highly traded BTC/JPY trading pair. Starting June 3rd, US-based crypto traders will gain access to the world’s largest Yen-based Bitcoin market using their bitFlyer USA accounts.
Since Japan declared Bitcoin an official currency in 2017, the cryptocurrency market in the country has grown manifold. Thanks to the country’s robust regulatory framework and pricing dynamics, the BTC/JPY market offers deep liquidity and high trading volumes. bitFlyer is the gateway to the Japanese crypto market, capturing 40% of the total Bitcoin-Yen ecosystem.
During the first quarter of 2021, bitFlyer’s total trade volume for the BTC/JPY pair exceeded $30 billion. Additionally, bitFlyer’s Bitcoin-Yen transaction volume is equivalent to or larger than some of the largest BTC/USD markets, such as Kraken, Gemini, and Bitstamp.
bitFlyer USA, the wholly-owned subsidiary of bitFlyer Inc., currently serves 49 American states and territories while aiming to expand further, both in the US and globally. By opening the BTC/JPY market for its US customers, bitFlyer brings forth several untapped opportunities while connecting the Japanese crypto ecosystem with the rest of the world.
bitFlyer USA complies with the local regulatory and financial laws, allowing users to seamlessly participate in cross-border trading without additional hassles or extra fees. Moreover, this effort helps improve the overall ecosystem by adding more liquidity while helping narrow the pricing Bitcoin disparities in different currencies between different geographies.
As crypto transactions gain momentum among traders and retailers, this initiative from bitFlyer will attract more traders seeking to capitalize on these unique arbitrage opportunities, turning the historically siloed Japanese market into a much more accessible arena. Most importantly, it demonstrates the power of Bitcoin to transcend boundaries and build a borderless connected economy.