May 31, 2017
GMO-Z.com Coin Launches Z.com Coin byGMO, Enabling Virtual Currency FX and Virtual Currency Trading
- GMO-Z.com Coin, Inc.
Tokyo, Japan – May 31, 2017 – GMO-Z.com Coin (https://coin.z.com/jp/ ) will today launch its new service Z.com Coin byGMO (Z.com Coin), which enables virtual currency FX and virtual currency trading. Customers can use Z.com Coin on both computers and smartphones.
Z.com Coin offers two types of services - virtual currency FX, which is an over-the-counter (OTC) bitcoin margin trading, and virtual currency trading, which enables buying and selling of virtual currency in JPY – in addition to basic features allowing customers to send and receive bitcoins.
Virtual currency FX transactions have both bid (Bid) and asked (Ask) prices displayed simultaneously (two-way price quotation) and customers used to conventional FX trading (OTC FX transactions) will find the interface familiar. The maximum amount of leverage enabled will be set at 25:1 (generally 5:1).
Virtual currency trading is a spot trading and a customer who wants to buy bitcoin can easily use it. In addition to using purchased virtual currency for payment, customers can send it from Z.com Coin wallet to other wallets.
■Z.com Coin – service line-up (two types)
|I. Virtual currency FX: over-the-counter (OTC) bitcoin margin trading|
| Virtual currency FX is similar to FX (an OTC FX transaction) in that it enables trading using leverage.|
1. Direct transaction with both bid (Bid) and asked (Ask) prices displayed simultaneously (two-way price quotation).
2. Enables trading with a maximum leverage of 25:1 (generally 5:1).
3. Choose between market, limit, stop, IFD, OCO, and IFD-OCO orders.
4. Dedicated smartphone application is also available (plan).
5. Available 24 hours a day, every day, including weekends and national holidays.
|II. Virtual currency trading: easily buy and sell virtual currency in JPY|
| Virtual currency trading enables the buying and selling of virtual currency in JPY. Only bitcoin is available initially but the types of virtual currency will expand in the future.|
1. Available virtual currency: bitcoin.
2. Available 24 hours a day, every day.
3. No trading commissions.
4. No bitcoin withdrawal fees.
■A safe and secure system for trading virtual currency
GMO-Z.com Coin utilizes systems that comply with various laws and regulations, including an ID verification system, as they aim to offer a safe service for both current and future traders of virtual currencies.
In addition to segregating the assets that GMO-Z.com Coin keeps for customers, GMO-Z.com Coin has a security system as a virtual currency antitheft measure, adopting offline storage by cold storage, which is separated from the Internet, and multi-signature (multiple signature), which requires multiple keys to move the funds.
GMO-Z.com Coin is preparing not only inquiry form on the website but also call center and live chat as a customer support.
■Opening a Z.com Coin account
|Services||Virtual currency FX and virtual currency trading|
|How to open a new account||・Open an account by clicking “Open account” on Z.com Coin’s website.|
・GMO-Z.com Coin will send email to the ones who made priority applications. Open an account by clicking the URL in the email.
Ethereum and other types of virtual currency, in addition to bitcoin, will be available in the future. GMO-Z.com Coin will continue to develop various tools, including trading app and charts, and expand service features, promoting Z.com Coin.
GMO Internet Group
GMO Internet Group is an Internet services industry leader, developing and operating Japan’s most widely used domain, hosting & cloud, ecommerce, security, and payment solutions. The Group also includes the world’s largest online FX trading platform, as well as online advertising, Internet media, and mobile entertainment products. GMO Internet, Inc. (TSE: 9449) is headquartered in Tokyo, Japan. For more information, please visit http://www.gmo.jp/en/.
GMO Internet Group
Group Public / Investor Relations