Leading Japanese cryptocurrency exchange, bitFlyer, launched its cross-border trading functionality in the United States, allowing American crypto traders to seamlessly trade the high volume BTC/JPY pair that has traditionally been geographically out of reach.
Deep Liquidity Of Japanese Crypto Market Goes Borderless
Japanese cryptocurrency exchange, bitFlyer, has introduced the BTC/JPY pair to North American customers, as bitFlyer USA, the US subsidiary of bitFlyer Inc., activates cross-border trading.
The Japanese Yen – Bitcoin market is the largest crypto market by transaction activity, offering high trading volumes and deep liquidity. For the first quarter of 2021, bitFlyer’s BTC/JPY spot trading crossed $30 billion in trading volume, representing around 40% of total Japanese cryptocurrency activity in the pair.
Owing to its high trade volumes, deep liquidity, and instantaneous transactability, the BTC/JPY market is one of the most lucrative markets globally and has caught the attention of many of the world’s leading traders and investors. As a result, bitFlyer, fully licensed in Japan and the US, has opened up the BTC/JPY market to American traders. The platform complies with all local regulations while allowing traders to invest in the market with the lowest trading fees.
By introducing the BTC/JPY pair for US traders, bitFlyer sets the foundation for connecting the Japanese crypto ecosystem with the global market. Moreover, besides the higher degree of interconnectivity that can add liquidity across pairs, the move opens fresh arbitrage opportunities to take advantage of premiums in the traditionally walled-off Japanese financial markets.
bitFlyer is the only exchange licensed to operate in Japan, the European Union, and the US. Since its inception, the company has been leading the ecosystem’s regulatory developments, connecting some of the world’s largest crypto markets. Launched in 2017 in San Francisco, bitFlyer USA currently operates in 49 US states and territories.
Originally published at DailyCoin