The leading Japanese cryptocurrency exchange, bitFlyer, has recently announced that it’s adding Ethereum (ETH) to its Buy/Sell trading platform. Now onwards, bitFlyer users across Europe and the US can send and receive ETH while ensuring that these transactions also comply by the regulatory standards that bitFlyer guarantees for Bitcoin (BTC) transactions.
Launched in 2015, Ethereum allows for both Smart Contracts as well as Distributed Applications (DApps) to be built and run on top of it without any downtime, fraud, control or interference from any third party. The applications on this decentralized software platform are run on its platform-specific cryptographic token, Ether. As of February 2019, Ethereum had a market cap of $12.49B and a per token value of $118.71.
Although bitFlyer is relatively new and has only come to light with Japan opening doors to virtual commodity exchanges in 2017, the Tokyo-based company has already become the poster exchange for the viability of regulated crypto exchanges.
BitFlyer has always been predominantly focused on Bitcoin, and no other currency was available through the exchange. While Bitcoin is still the largest dominating most of the space, recent competitors like Ripple, Ethereum, Litecoin, and EOS have also garnered hefty followings over the years. Now since bitFlyer started getting its feet off the ground, the team had already informed that they are planning on adding more coins and product updates, in the coming weeks.
bitFlyer reportedly has plans to add Ethereum to its exchange very soon. The exchange stated that it is targeting crypto enthusiasts, which includes both experienced traders and beginners.
At BitFlyer, we want to offer not just the most popular coins, but the most respected ones too, which makes ETH a logical choice to expand our service offering. Not only has ETH proved itself as a useful altcoin, particularly in relation to smart contracts, it has an incredibly strong community that surrounds it,
asserts Andy Bryant, co-head and COO of bitFlyer’s Europe division, in a statement.
BitFlyer America was launched back in November 2017, a month before Bitcoin reached its all-time high of nearly $20,000 per unit. The European division was launched two months later on January 2018. bitFlyer also became one of the first to obtain the infamous BitLicense which grants a crypto company the right to operate or offer its services in New York.
The addition of ETH comes recently after both of bitFlyer’s Europe, and USA divisions announced its Buy/Sell platform last month. This new trading platform allows anyone to buy and sell BTC seamlessly, and now ETH, on the platform.