The bitFlyer Europe crypto exchange has announced the provision of direct access to the liquidity of its parent platform in Japan for European bitcoin traders.
"For the first time, European users will be able to access one of the largest bitcoin markets in Japan using a platform regulated in Europe," the company writes.
It is estimated that about 20% of bitcoin trading in pairs with fiat currencies is in the Japanese yen, of which 70% is on the bitFlyer platform.
"bitFlyer is now not only the first crypto exchange licensed to operate in Japan, the EU and the United States, but also the first to provide cross-border access to JPY liquidity," the press release says.
According to Andy Bryant, Chief Operating Officer of bitFlyer Europe, previously users in Europe had to take several additional steps to access the yen trading pair. In the future, the company intends to make all trading pairs on its spot market available in all regions it serves, such as BTC/JPY in the U.S., BTC/USD in Europe and Japan, and BTC/EUR in Japan and the U.S..