Japanese cryptocurrency exchange bitFlyer has announced that it has received BitLicense from the New York State Department of Financial Services (NYDFS) and has expanded its business to the United States.

CoinDesk reported that the announcement follows a private beta in which the exchange worked with 2,000 initial users.

"BitFlyer is proud to have been granted a BitLicense to do business in the state of New York," CEO Yuzo Kano said in a statement (as quoted by CoinDesk). "This is a nod of approval from one of the most influential state financial services regulators in the nation."

bitFlyer first revealed its plans to expand to the U.S. in August when it said that it has received the approval to operate in 34 states. The exchange said that receiving BitLicense is a major milestone.

The NYDFS has approved bitFlyer USA to offer an online digital currency exchange and trading platform as well as provide custodial wallet services for the Bitcoin digital currency.

“The BitLicense propels bitFlyer forward in our mission to make the world simpler through blockchain. DFS’ rigorous application ensures only the most safe and compliant firms can operate in New York,” Kano said, “the US team has worked closely with DFS through the application process and we appreciate the relationship we’ve built with them.”