Along with South Korea and America, Japan is one of the giants in the cryptocurrency universe. Now it looks like they are spreading their wealth into Europe, as BitFlyer, the Japanese bitcoin and virtual currency exchange has expanded their way into the EU.
Without question, BitFlyer is one of the world’s largest exchanges, the fourteenth to be exact. Coinmarket.com data shows that within the last 24 hours BitFlyer has traded over $294 million. That is right on par with Coinbase.
One has to go onto question, what makes BitFlyer so successful. It can be attributed to the fact that they don’t offer a range of alternative coins. BitFlyer sticks to the mainstream names. It gives its user the option of buying the popular Japanese cryptocurrency Monacoin along with Bitcoin, Bitcoin Cash, Ethereum and Ethereum classic. When it comes down to Europe the company will stick with Bitcoin at the start, but the company has released a statement saying, “other virtual currencies such as Litecoin, Ethereum, Ethereum Classic and Bitcoin Cash later in the year.”
Bitflyer was granted its payment license in Luxembourg and thus that is where the exchange will keep its European presence.
Many entangled in the world of cryptocurrencies say that despite the United States, South Korea and Japan being the biggest current names, Europe has a shot at becoming just as big. Seems Japan was the first capitalize on this. The CEO of Binance,Zhao Changpeng has stated that the fastest growing markets at the moment are in the UK, Italy, Germany and Turkey. With BitFlyer beating the competition to Europe, they can be perhaps scoring it big in the long run. We can all look forward to seeing many other exchanges make their way over there.