Japanese bitcoin exchange bitFlyer sets foot on US soil

bitFlyer, Japan’s largest bitcoin exchange by trading volume, is preparing to enter the U.S. market.

The Tokyo-based cryptocurrency exchange announced that it has opened an office in the financial district of San Francisco, and is eyeing to start its U.S. operations by the fall of 2017. bitFlyer said it has already been approved to operate in 34 states.

Founded in 2014, bitFlyer raised an estimated $27 million in a Series C funding round last year. The start-up said it has facilitated over $40 billion in bitcoin trades, $30 billion of which came in 2017 year-to-date alone.

“While bitFlyer, Inc. is headquartered in Japan, my vision was always to create a global company, and I am excited that the US will be its first step toward global expansion,” bitFlyer CEO Yuzo Kano said in a statement. “Bitcoin is a global currency, now our exchange will be global too.”