BitFlyer launches new European branch

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Yesterday exchange announced that it had received a payment institution license (PI) to operate its services in the European Union and initially seeks to attract professional traders with a large volume of sales - a sector that it considers insufficiently serviced in the EU.

According to CoinMarketCap’s data, bitFlyer is currently the sixth largest exchange by volume of bitcoin trading (BTC/JPY). In addition, it argues that this is the first bitcoin exchange to be regulated in Japan, the U.S. and, at present, in Europe.

The license of the payment institution was provided by the Luxembourg regulator, the Commission de Surveillance du Secteur Financier (CSSF), and the Luxembourg House of Financial Technology Foundation (LHoFT).

Kicking off only with the trading desk of BTC/EUR, bitFlyer indicated that this year it is also planning to add more cryptocurrency options, including litecoin, ethereum, ethereum classic and bitcoin cash. To attract new customers from EU, the branch has introduced zero percent trading fees as an introductory offer by the end of February.

BitFlyer was officially launched in the U.S. in November, last year, having been approved by regulators, including the New York State Department of Financial Services.