Bitflyer, the newest US based market
A new Bitcoin company is on the way to the United States. Bitflyer; based in Japan, is intending to open a new office space in San Francisco. And they have earned the approval of 34 states to operate in. The United States is the first step for the company’s goal of going global. After all, the cryptocurrency is global as well.
This is a big first step, one that has its own complications but bitFlyer is ready for them. The United States has different regulations than other nations. Each state in the US has its own list of regulations that the company must follow, otherwise they will end up being shut down. Some states have stricter regulations than others; such as Washington. The regulations have limited the number of cryptocurrency based markets in the US.
Flying to new horizons
As stated previously, bitcoin is global. But naturally some nations will hold more of the market than others. Japan has consistently been the forerunner of Bitcoin, which is only natural due to Bitcoin was founded by a man under the alias of Satoshi Nakamoto, a native of Japan. The measure of a nation’s share of the market is through the number of transactions. In early August the Japanese “yen” encompassed 46 percent of Bitcoin transactions. And the US dollar accounted for about 25 percent. Other notable curriences include the Chinese “yuan” and the South korean “won” at 12% each. The United States market is still highly active, which is something biFlyer hopes to take advantage of and help grow.
Bitcoin has been growing rapidly all year along with the interest in the cryptocurrency. Companies like bitFlyer aim to make this more possible. And the Japanese based company has been successful in their home nation. Hopefully thhey accomplish the same thing in the US and are able to spread into Canada in the near future.