BL3P, a subsidiary of the first bitcoin company in The Netherlands ‘Bitonic’, has announced the expansion of its services to the Single Euro Payments Area (SEPA).

“BL3P is now available to all EU residents [plus the additional countries in the SEPA-zone], without restrictions! Our cooperation with bunq takes away any remaining obstacles and creates many new oppurtunities. From today on, trading on BL3P is available to any EU resident with any SEPA bank account”, the announcement reads.

By targeting new customers in the EU, BL3P aims to grow its user base beyond The Netherlands. The EU is a growing hub of bitcoin startups, with several exchanges competing for customers.

Speaking to Bitcoin Magazine, Jeroen Rijnbout of BL3P said:

“We want to put BL3P on the map as a reliable and user-friendly trading platform for users from the Eurozone.” In the long term, BL3P hopes to build its reputation “as an exchange that is run by an experienced team and take Bitonic to the international stage.”

“We believe it is good to have multiple exchanges to choose from. This enables users to spread their risk, profit from arbitrage and choose a party that they trust. Centralization of the majority of bitcoin trading to one exchange is dangerous, as we have seen in the past. We see it as a healthy development for the ecosystem.”

BL3P went live in The Netherlands in April 2016. With its expansion to the EU, it will now allow users in all SEPA countries to buy and sell bitcoin. The company currently offers the ability to use market and limit orders and charges a fixed trading fee of 0.25 percent on all buy/sell transactions.

In addition to bitcoin, the company also intends to add support for other cryptocurrencies going forward. Rijnbout said that they are keeping an eye on the developments in altcoins.

“We tend to be hesitant in adding new currencies, as we want to ensure an altcoin or token has added value before we add them to our platforms,” Rijnbout adds. “However, at the same time, we listen to and understand the needs of traders and investors and we want to be able to meet their wishes.”