BitFlyer Obtains License to Operate in the U.S.

The world’s largest bitcoin exchange, BitFlyer, has just obtained a license to operate in New York as well as 40 other states in the U.S.

This will make the company the fourth digital currency exchange to have a “BitLicense” to operate in the state of New York.

The Tokyo-based bitcoin exchange is also planning to offer zero percent trading fees in the U.S. through the end of this year.

Data from CryptoCompare shows that bitcoin trading volume in Japanese yen accounts for 60% or more of global trading volume in the digital currency regularly. BitFlyer has almost 80% of that volume.

The company’s U.S. COO, Bartek Ringwelski spoke to CNBC and said, “Bitcoin in 2018 transitions from something that is viewed as a social phenomenon and very quickly transitions into an established institutional phenomenon. As regulation increases in the space people are going to feel more and more comfortable about bitcoin.”

BitFlyer has raised $36 million in venture capital with investors that include Digital Currency Group, and Mizuho Financial Group.

Bitcoin hit a new record high on Tuesday according to CoinDesk at $9,929.61.