Bitcoin exchange is granted licence for its European launch
BitFlyer, the world's largest Bitcoin exchange, has been given the green light for a European launch.
The Tokyo-based firm has been awarded a payment institution (PI) licence for the European Union, building on its regulatory approval in the US and Japan.
BitFlyer handles about a quarter of the globe's Bitcoin exchange volumes, with more than 250 billion US dollars worth of Bitcoin being traded on its platform last year. Despite the hysteria surrounding the virtual currency, however, Bitcoin has endured a choppy ride since the end of 2017.
It has fallen from December highs of nearly $20,000 (£14,465) to $10,624.42 (£7,629) on January 22, according to Coindesk data. Yuzo Kano, founder and chief executive of BitFlyer, explained: "When I set up BitFlyer in 2014, I did so with global ambitions and the belief that approved regulatory status is fundamental to the long-term future of Bitcoin and the virtual currency industry.
"I am proud that we are now the most compliant virtual currency exchange in the world; this coveted regulatory status gives our customers, our company and the virtual currency industry as a whole a very positive future outlook." Around €10bn of Bitcoin is traded worldwide per month.