Japan, GMO blockchain based trading platform coming soon
Japan, GMO blockchain based trading platform coming soon
Blockchain

Japan, GMO blockchain based trading platform coming soon

By Marco Cavicchioli - 12 Sep 2018

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GMO Internet is a large Japanese Internet company listed in the first section of the Tokyo Stock Exchange.

Their main focus is providing connectivity, but they also manage other activities such as online advertising, media, Internet financial services and entertainment.

Recently they announced that, in addition to providing classic fiat currency trading services, from September 5th, 2018 they also implemented a cryptocurrency trading service.

The platform is similar to that of a normal exchange and is aimed only at the Japanese public, allowing also trades with leverage up to 10X.

Trading is currently limited to bitcoin, with a limit of 2 BTC per order and 1,000 BTC per day: here is a web page with more details and a comparison between the various services offered.

The system is based on GMO Coin‘s blockchain and merges two other trading platforms of the company: one for margin trading and one for brokerage.

In the future, this new platform should also be used to trade undefined digital assets.

In addition to allowing withdrawals and deposits of cryptocurrencies, the special feature of GMO’s service is to be organized in such a way to allow sales and purchases to end when their respective orders are combined by associating a sales order to a purchase order with the same price.

Users will be charged a trading commission of 0.01%, while there will be no commission on withdrawals.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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