BitFlyer expands to USA

The New York State Department of Financial Services (DFS) has approved the application of bitFlyer for a virtual currency license
29 November 2017   1078

Bitflyer, the world’s largest cryptocurrency exchange, received approval from the New York State Department of Financial Services for a "BitLicense" and now bitFlyer USA is approved to offer an online digital currency exchange and trading platform as well as provide custodial wallet services for the Bitcoin digital currency.

Tokyo-based bitFlyer has become the fourth digital currency exchange to receive approval for a "BitLicense". This brings the total number of states in which bitFlyer can operate to 40. Apart from bitFlyer, DFS has granted licenses to Coinbase Inc., XRP II and Circle Internet Financial.

Bitflyer is proud to have been granted a Bit License to do business in the state of New York. This is a nod of approval from one of the most influential state financial services regulators in the nation.

 

Yuzo Kano

CEO, bitFlyer

Bitflyer provides trading of bitcoin, bitcoin cash, and ethereum against the yen, with 24-hour BTC volume of around US $250 million. This accounts for 94% of all trading activity on the platform. Now, the company will be able to significantly broaden its customer base and to meet the needs of americans to buy cryptocurrencies.

BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   101

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.
 

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.