bitFlyer, the Tokyo-based bitcoin exchange, has announced its expansion into Europe after it received a Payment Institution (PI) license to operate in the common currency area.

In its official release, bitFlyer said that it has become the first Bitcoin exchange to be regulated in Japan, the US, and Europe, making it the most compliant virtual currency exchange in the world.

“When I set up bitFlyer in 2014, I did so with global ambitions and the belief that approved regulatory status is fundamental to the long-term future of Bitcoin and the virtual currency industry. I am proud that we are now the most compliant virtual currency exchange in the world; this coveted regulatory status gives our customers, our company and the virtual currency industry as a whole a very positive future outlook,” founder and CEO of bitFlyer and ex-Goldman Sachs trader, Yuzo Kano, said.

The PI license was granted by the Luxembourg regulator, Commission de Surveillance du Secteur Financier (CSSF). bitFlyer said that it will market its platform in the European Union from the company’s base at The Luxembourg House of Financial Technology Foundation (The LHoFT).

“We’re delighted that one of the most successful Japanese startups chose Luxembourg as their EU platform,” said Pierre Gramegna, the Luxembourg Minister of Finance.

The initial product offering is the BTC/EUR pair and the company plans to add support for other cryptocurrencies such as Litecoin, Ethereum, Ethereum Classic and Bitcoin Cash later in the year. bitFlyer Europe is initially targeting professional, high-volume traders – an audience currently underserved in the region.

“What we bring to Europe is a platform designed by traders for traders,” says Andy Bryant, Chief Operating Officer of bitFlyer Europe. “Through our web interface or API, traders can get up and running quickly and benefit from some of the most robust systems, highest speeds and an interface designed with their specific needs in mind.”

bitFlyer Europe is offering zero percent trading fees as an introductory promotion until the end of February 2018.