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BITFLYER LAUNCHES ITS NEW CRYPTOCURRENCY EXCHANGE FOR US CUSTOMERS

Just three of the licenses have previously been
awarded, which entitle a company to operate a bitcoin exchange within New York. The
Japanese exchange will now roll its services out to customers in a total of 41 U.S. states.
In its native Japan, Bitflyer provides trading of bitcoin, bitcoin cash, and ethereum against the
yen, with 24-hour BTC volume of around US $170 million. This accounts for 96% of all trading
activity on the platform. Having secured permission to launch across the majority of the U.S,
the Tokyo company will be able to significantly broaden its customer base and to tap into
Americans’ growing demand for cryptocurrencies.
Japanese cryptocurrency investors have traded $100 billion of assets via Bitflyer this year and
the exchange will be hoping it can capture a similar share of the U.S. market. It will face stiff
competition though from established exchanges such as Coinbase, Gemini, Bittrex, and
Kraken. One exchange it won’t have to compete with is Asian neighbor Bitfinex, which is in
the process of cutting ties with the U.S. market. Gemini is making great strides in its quest to
grow its customer base; today the New York-based exchange announced that it has opened
its services to Oregon residents, taking the number of states covered to 46.

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