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Japanese Bitcoin Exchange BitFlyer Raises Over $230,000

Avatar newsbtc 5 years ago

Here’s some news of yet another investment in the cryptocurrency space.

Bloomberg reports that Japanese bitcoin exchange BitFlyer has raised approximately 25 million yen (or about $236,000 USD) from Barry Silbert’s Bitcoin Opportunity Corp.

The exchange, which launched earlier this year, will use the funds to expand overseas.

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Interestingly enough, the exchange hasn’t quite decided where they’re planning to plant their flag, though Singapore is likely to be a place of interest, according to Yuzo Kana, BitFlyer CEO and former Goldman Sachs trader.

BitFlyer’s launch came at an interesting time, just in the wake of the Mt. Gox disaster, which saw the funds of bitcoin traders around the world effectively lost. Investor losses are pegged well over $500 million (at the time of the collapse).

It’s a fantastic opportunity for BitFlyer, and we’ll just have to wait and see how they manage to wow the community.

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