The U.S. cryptocurrency community can now access the BTC/JPY pair as bitFlyer USA, a wholly-owned subsidiary of bitFlyer, Inc., introduces its cross-border trading function.
bitFlyer makes JPY liquidity accessible for U.S. traders
The world's largest cryptocurrency trading pair with Japanese Yen is now available to traders in the United States. Thus, the American clients of bitFlyer can leverage the opportunities of a highly liquid market.
bitFlyer offers fully regulated services that allow users to buy and sell Bitcoin (BTC) with Japanese Yen. This exchange is the undisputed leader in terms of BTC/JPY trading volume.
In Q1, 2021, bitFlyer reported more than $30 billion in BTC/JPY spot market trading volume. That said, it is responsible for 40 percent of the Japanese Bitcoin (BTC) ecosystem.
This release is crucial for the global Bitcoin (BTC) and crypto community as Japan has evolved into the second-most important country for decentralized currencies adoption.
Service expands outside Japan
As stressed by bitFlyer's statement, in Japan, crypto is gaining traction among both traders and in day-to-day purchases by retail users.
Joel Edgerton, chief operating officer of bitFlyer USA, is certain that the new release will establish a reliable cross-border decentralized bridge between the economies of the two countries:
It's another step forward to increase global adoption of bitcoin. By opening up access to BTC/JPY markets for US residents, we enable a tighter connection between the two cryptocurrency markets. Bitcoin can now act as the glue between the two local financial systems—an exciting step on the path to wider adoption.
As covered by U.Today previously, bitFlyer pioneered many technical and marketing solutions in cryptocurrency trading. The exchange was among the first services to obtain U.S., EU and Japanese licenses.
Vladislav Sopov