bitFlyer gets license to operate in Connecticut

2021-3-13 08:05

Japan-based cryptocurrency exchange bitFlyer Holdings announces it has received a full license to carry operations in Connecticut.

The regulatory approval means Connecticut residents are now able to buy and sell digital assets on the exchange’s platform.

Users also have several options when buying cryptocurrencies. They can buy digital assets using PayPal, Wire Transfer, debit, or credit cards. Also, the crypto platform enables semi-monthly, monthly, weekly, or daily scheduling.

With the addition of Connecticut to its coverage areas, bitFlyer now covered a total of 49 US states and territories. The exchange’s mobile application is also available for all types of trading activities on the platform.

Chief Operating Officer of bitFlyer USA, Joel Edgerton, commented about the development by saying the company is excited about the license. He added that the approval will help the expansion goals of the exchange “We look forward to bringing our global platform to Connecticut customers,” Edgerton stated.

More affordable fees for residents

bitFlyer has always made its services affordable to all users. The company stated it also plans to continue with such a low platform fee structure with residents in Connecticut.

The platform doesn’t charge any fee for account creation, no maintenance fees, and it doesn’t charge fees for deposits or withdrawals. However, the withdrawal fees for wire transfer (which is not within the exchange’s control) still apply.

The new platform does not only cater to retail traders. The bitFlyer Lightning trading platform provides all the tools needed by institutional investors and sophisticated traders in the state. The fee structure of the professional-grade platform is dependent on monthly trading volume.

Cordial relationship with regulators

Apart from offering buy and sell features, users in the state can also plan for recurring crypto purchases and utilize the ACH transfer compatibility to transfer funds to the ecosystem.

bitFlyer is also in the good books of authorities and local regulators. As a result of the company’s strong relationship with these bodies, bitFlyer has become the only exchange platform with a license to operate in the United States, Europe, and Japan.

The post bitFlyer gets license to operate in Connecticut appeared first on Invezz.

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