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Japan's newly approved BTC exchange is thriving Other trading platforms are also actively expanding overseas

Japan's financial regulator has newly approved Bitocean, an encrypted digital currency exchange, to become its sixteenth approved exchange. As the industry becomes more competitive, some exchanges are expanding their overseas operations in search of more opportunities. At the same time, more and more businesses are seeking bitcoin-related businesses.

FSA recently issued a license to Bitocean, a new cryptocurrency currency exchange in Tokyo, the 16th crypto-exchange approved by the agency. According to the FSA website, Bitcoin is the only cryptocurrency that can be traded on this exchange.

According to the Bitocean website, the company opened in China and Japan in 2013 and is developing two-way bitcoin ATMs and bitcoin trading platforms. The site said: "While we were building a new bitcoin trading platform in Tokyo, we were working on the clearing and remediation of the Mt Gox program."

This is the third round of exchanges approved by the FSA. The first round was approved by 11 exchanges in September. The second round was approved by four exchanges early this month. In the meantime, Coincheck , Japan's second-largest Bitcoin exchange, has not yet been approved and is still under FSA review.

As the industry becomes increasingly competitive, those exchanges that have been approved by the FSA are already moving forward with strategic transformation and are aggressively expanding into overseas markets. Nikkei Nikkei recently reported:

"In order to increase transaction volume and liquidity, Japan's encrypted digital currency trading platform is expanding overseas, and now there are more than 20 digital currency exchanges in Japan, but there is not enough business.In addition, because there is not much currency available for trading , Investors often need to wait a long time to complete the transaction, in the face of large orders, it is easy to cause currency fluctuations.
Bitflyer, the country's largest bitcoin exchange, extended its business to the United States by the end of November this year and plans to open an exchange in Europe. Other trading platform operators expanding overseas include Quoine, which will operate in the Philippines next year. Bitpoint opened an exchange in Korea in November of this year and plans to open a home in Taiwan by January 2018. Bitbank also plans to enter other Asian and African markets.

The number of approved bitcoin exchanges in Japan is steadily increasing, and the number of customers accepting bitcoin payments is also on the rise. According to a recent report by this newspaper, a first-hand used car dealer said it accepts encrypted digital currency payments. Some retailers are also starting to accept digital currency payments.