Japan's leading Forex company GMO launches Bitcoin exchange

posted 11 months ago
Z.com Coin bitcoin exchange, a new division of Japan’s leading provider of both Internet services and Forex exchange, GMO, recently opened to staggering traffic volumes.

Having been temporarily delayed due to high levels of Bitcoin trading traffic last week, the exchange re-scheduled their launch for Wednesday, at which time high levels of traffic took the site offline, resulting in a maintenance message to visitors on the first day of service.

Parent company GMO and their venture capital arm, GMO Ventures, both were long-time investors of leading Japanese exchange BitFlyer. The plans for GMO-Z.com Coin Co. Ltd were first announced in October 2016, as the Japanese government first started talking positively about Bitcoin regulation.

The company started testing their digital currency trading service the following month, and has been preparing for a full-scale bitcoin exchange with margin trading ever since. Pre-registration for the trading platforms opened on May 9, with a full launch originally slated May 24th.

However, as the deadline neared and Bitcoin’s price and volumes were at all-time highs, the company delayed their launch for one week, due to the excessive growth in the number of bitcoin transactions since their May 9 announcement.

Tags: bitcoin, news