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bitFlyer secures payment institution license to operate in EU

BBR Staff Writer Published 24 January 2018

Japan-based bitcoin exchange operator bitFlyer has secured a payment institution (PI) license to carry out operations in the European Union (EU) region.

Luxembourg regulator Commission de Surveillance du Secteur Financier (CSSF) has granted PI license to bitFlyer.

From its base at The Luxembourg House of Financial Technology Foundation (The LHoFT), bitFlyer will market its platform in the EU.

bitFlyer said that it will initially serve professional and high-volume traders who are currently underserved in Europe.

bitFlyer will provide BTC/EUR pair product to the customers, and is planning to provide other virtual currencies such as Litecoin, Ethereum, Ethereum Classic and Bitcoin Cash in the coming months.

bitFlyer now turned as the first Bitcoin exchange to be regulated in Japan, the US and Europe

bitFlyer secured license to operate in the US  in 2017, and is the only regulator in Europe that will enable users to trade with Japan.

bitFlyer Europe chief operating officer Andy Bryant said: “Through our web interface or API, traders can get up and running quickly and benefit from some of the most robust systems, highest speeds and an interface designed with their specific needs in mind.”

bitFlyer founder and CEO Yuzo Kano said: “When I set up bitFlyer in 2014, I did so with global ambitions and the belief that approved regulatory status is fundamental to the long-term future of Bitcoin and the virtual currency industry.

I am proud that we are now the most compliant virtual currency exchange in the world; this coveted regulatory status gives our customers, our company and the virtual currency industry as a whole a very positive future outlook.”

Image: bitFlyer CEO Yuzo Kano with Luxembourg Finance Minister Pierre Gramegna. Photo: courtesy of Business Wire.