GMO Internet Offers Four New Cryptos to Trade, Introduces New Wallet App

Japanese internet giant GMO is going bullish with Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term by introducing a mobile-based crypto wallet platform on iOS and added four new digital assets for trading on its app.

The wallet platform, called “GMO Coin Virtual Currency Wallet,” will allow customers to store multiple cryptocurrencies along with fiat. The firm is also claiming that to ease the process, it has kept the registration process very simple.

Moreover, along with Bitcoin, GMO has listed four major altcoins - Ethereum, Bitcoin Cash, Litecoin, and Ripple - on its Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term to trading against Japanese yen.

But the company did not stop there.

CryptoChips

In an attempt to make cryptocurrencies mainstream, GMO has further introduced CryptoChips to enable distribution of cryptocurrency as remuneration within various game applications. The remunerations will be given in Bitcoin in the early days. However, GMO is planning to introduce options with more cryptocurrencies.

The company is optimistic that the introduction of cryptocurrencies at such level will make customers familiar with them. It has partnered with a group of companies to start the offerings from August, however, as the first initiative, GMO has decided to mount CryptoChips on the real-time territorial battle game “Whimsical War” and will distribute Bitcoin to players based on their ranks in the game.

GMO’s dominance

GMO Internet is a giant Japanese company that offers products such as online advertising, internet infrastructure, internet security and mobile entertainment. GMO Click Securities has been the world’s largest FX provider by trading volume since 2012. GMO Internet also has its own cryptocurrency exchange, GMO Coin, and it opened a Bitcoin mining operation in September 2017.

Earlier this month, GMO expanded the reach of its crypto trading platform internationally by entering the UK market. To achieve that, the UK arm of the GMO Internet’s brokerage arm (‘Z.com Trade’ and GMO Click Securities respectively) has signed a deal with Finatext UK, a company which sells various financial technology services.