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BitFlyer USA, a Cryptocurrency Exchange, Expands to Hawaii

BitFyler USA just announced that it has rolled out its services to its customers in Hawaii. This will be made possible by the new Digital Currency Innovation Lab, which was created from a partnership between Hawaii’s Department of Financial Institutions and the Hawaii Technology Development Corporation (HTDC). BitFlyer USA is a branch for the Tokyo based crypto exchange BitFlyer that was formed in 2014.

The Project

The project is likened to a regulatory sandbox that helps cryptocurrency service providers in Hawaii to do business without needing a money transmitter license for two years. BitFlyer has a Direct Buy/Sell option that allows Hawaii residents to easily cryptocurrencies with USD. There is also a mobile app for that for more convenience.

In addition to that, the site has BitFlyer Lightning, which is a professional-grade trading platform for seasoned traders and institutional investors.

Venture to Hawaii

Joel Edgerton, the BitFyler USA COO, said they are happy to venture into Hawaii to give world-class services. Hawaii residents will be able to access licensed exchange for their Bitcoin and cryptocurrency trading. He also highlighted that the company chose Hawaii since there is a close integration between the state and Japan. Hawaii has been seen as a bridge between the US and Japan. The BitFlyer USA founder Yuzo Kano explained that since there are many Japanese people in Hawaii, having a Japan-based exchange means a lot. Apart from Hawaii, BitFyler is currently in 48 other US states.

BitFlyer is currently the only licensed exchange in the world to operate in both US, Japan, and Europe. It is the fourth one to get a New York BitLicense. The company has been aggressive with partnerships since it was founded.  The program will not only be beneficial to Hawaii residents but also regulators when it comes to accessing the right tools and insights for proper regulations. There is hope that there will be overall growth of innovation in the state.

Len Higashi, the director of HTDC, cited that he hopes that BitFlyer will promote a vibrant cryptocurrency community in Hawaii.

The sandbox initiative will be a trailblazer in the comeback of crypto exchanges and will help exchanges get a full operational license in the future.

BitFlyer has been a large and successful exchange for many years, and being in Hawaii will mean more growth. 2020 has been a great year for BitFlyer as it is also working on developing a blockchain-based voting app.

Image by muaban tienao from Flickr.

Marcia

Marcia

Marcia is a real crypto fan, specialized in bitcoin and NFT news.

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