Bitflyer, Japan's largest and the world's top bitcoin exchange by trading volume, has officially announced its expansion into the United States market this fall. The company has obtained regulatory approval to operate in 34 states and will launch a US-based exchange through its wholly-owned subsidiary, Bitflyer USA Inc, headquartered in San Francisco. The platform will initially offer BTC/USD trading pairs targeting professional traders and institutional investors, with plans to expand to additional trading pairs and products over time.
A Strategic Global First Step
Founded in 2014, Bitflyer has raised over 4.1 billion yen (approximately $36 million) in venture capital. According to Coinhills, it ranks as the largest bitcoin exchange both in Japan and globally by trading volume. CEO Yuzo Kano stated: '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. Bitcoin is a global currency; now our exchange will be global too.'
Bitflyer's US entry comes exactly one week after Bitfinex, the leading global exchange for USD bitcoin volume, announced it was exiting the US market due to disproportionate resource burdens on support, legal, and regulatory compliance. In contrast, Bitflyer has secured licenses in 34 states—comparable to Coinbase's 38—demonstrating confidence in its regulatory readiness.
Bringing 'Mrs. Watanabe' to American Traders
The exchange has facilitated over $40 billion worth of bitcoin trades, including $30 billion in 2017 alone, according to Friday's announcement. Much of this growth is attributed to the powerful Japanese retail investor archetype known as 'Mrs. Watanabe,' a major force in global forex markets. Bitflyer's COO Bartek Ringwelski commented: 'There is a concept of Mrs. Watanabe in the Japanese forex market; she is the personification of household trading in Japan. Bitflyer aims to be the first exchange to allow US bitcoin traders to trade with Mrs. Watanabe.'
Japan's recognition of bitcoin as legal tender in April 2017, combined with near-zero savings rates, has driven significant retail participation in cryptocurrencies. Ivan Brightly, portfolio manager at Full Node Capital LLC, noted: 'Tokyo has been the epicenter for forex trading for decades. As the market leader in Japan, I expect Bitflyer to bring significant liquidity and market expertise to US markets.'
With Bitflyer's proven track record in handling high volume and regulatory compliance in Japan, its US expansion could provide a robust on-ramp for institutional and professional traders seeking liquidity and reliability. The company is currently finalizing its US team and infrastructure, with a launch expected later this year.