The bitFlyer platform has announced the launch of cross-border trading with Japan. This will give European users access to one of the largest bitcoin markets, while using a platform regulated in Europe.
This has certainly made the launch of cross-border trading a natural step forward for the company.
bitFlyer is only the first exchange to be authorized to trade in Japan, Europe and the US, and also the first to facilitate cross-border access to liquidity in JPY.
Cross-border trading, the challenge of bitFlyer
Cross-border transactions are particularly advantageous for traders seeking to manage large volumes, as the increased liquidity allows for faster execution of operations, reducing the risk of slippage and the spread between buying and selling prices.
Andy Bryant, COO of bitFlyer Europe, explained:
“The launch of bitFlyer’s cross-border trading is revolutionary for the cryptocurrency industry and a huge milestone for us. Before now, it’s been virtually impossible for traders with Euros to participate in the BTC/JPY trading pair without going through multiple extra steps and/or sign up processes, bringing unwanted inconvenience and delays. bitFlyer is quite simply giving more of its users an unprecedented opportunity to trade in one of the largest and most liquid markets in the world. Those more experienced and successful traders will know just how important it is to seek the most liquid markets, and we’re confident with this launch we can offer a better experience for them and all our users”.
Until now, cross-border trading has been a challenge for traders who could not easily register on Japanese exchanges. Instead, bitFlyer’s cross-border trading will allow users to access BTC/JPY with their bitFlyer Europe account.
The long-term goal of bitFlyer is to have all spot trading pairs available in all regions, including BTC/JPY in the US, BTC/USD in Europe and Japan, and BTC/EUR in Japan and the US.
Yuzo Kano, Founder of the bitFlyer Group and Chairman of bitFlyer Europe, said:
“bitFlyer’s objective has always been to create a truly global cryptocurrency trading platform that allows users to benefit from the scale, depth and liquidity of one, single marketplace. Liquidity is a constant challenge for cryptocurrency markets and is essential to ensure the future growth and sustainability of BTC and the cryptocurrency industry as a whole. Today’s announcement is a huge step forward in that regard”.