bitFlyer USA Launches its Crypto Services in Hawaii

bitFlyer USA has announced that it is now serving crypto to the residents of Hawaii under the regulatory Sandbox initiative.

By · Aug 20, 2020 . 5min read

bitFlyer USA has declared that its cryptocurrency exchange is now available to customers in Hawaii. bitFlyer was established in San Francisco in 2017. bitFlyer USA currently serves in 48 states and territories. bitFlyer, Inc., established in Tokyo in 2014 and has been Japan’s largest exchange by volume for many years. Therefore, it has millions of customers worldwide.

Digital Currency Innovation Lab Enhances Hawaii’s Crypto Ecosystem

Twelve cryptocurrency firms, including ErisX, bitFlyer USA, and Gemini, are now servicing Hawaii residents. The state’s regulatory sandbox called Digital Currency Innovation Lab has approved the firms. Digital Currency Innovation Lab is a collaboration between Hawaii’s Department of Financial Institutions and the Hawaii Technology Development Corporation (HTDC). The sandbox program was launched in March of this year. It allows crypto firms to seek approval for operating businesses in Hawaii. However, it enables them to do business without getting a state money transmitter license for two years.

“We chose Hawaii due to the regulatory sandbox for the digital currency they set up,” BitFlyer COO Joel Edgerton told Cointelegraph. “We also chose Hawaii due to close links between the state and Japan,” he added. “Our name recognition is particularly high in Hawaii.”

Direct Buy/Sell platform by bitFlyer will enable Hawaii residents to buy and sell cryptocurrencies conveniently. They can buy or sell crypto through their iOS or Android mobile apps. Moreover, the program will provide a secure environment for Hawaii residents. It will also offer regulators with the proper tools and insights to generate thoughtful regulations.

Yuzo Kano, CEO / Founder of bitFlyer USA, said in an interview,

“Since many Japanese people live in or travel to Hawaii, it is the state that serves as a bridge between Japan and the US. Offering our service here is very significant as an exchange that originates in Japan. We are very happy to see Hawaiians using the world’s best cryptocurrency exchange.”

This initiative will offer many opportunities for Hawaii residents to trade in Cryptocurrencies. However, with bitFlyer’s sandbox initiative, many crypto exchanges will make their way in Hawaii’s crypto ecosystem.

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