Japanese Forex Giant GMO to Launch New UK Crypto Trading App

Japanese brokers already dominate the global online retail FX and CFD market by trading volumes. And it now looks like they will try to leverage their country’s receptive regulatory environment to expand internationally with crypto too. The latest example is an app in the UK created by two groups headquartered in Tokyo.

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Pipster

Z.com Trade, the international brand of Japanese forex giant GMO, has announced it will launch a new FX and cryptocurrency mobile trading application in partnership with Finatext UK. Named “Pipster,” the app is expected to be released for Android and iOS in the coming months.

The developers say that the concept behind Pipster is to provide simplified, smarter trading platform to a new generation of traders. It is said to include price indicators based on technical analysis, upcoming events, news and social sentiment. The app will also focus on building a community and offer a range of learning materials including videos, interactive quizzes and diagrams designed to easily explain the basics of trading.

“With Z.com Trade’s capacity to provide the best trading technology for retail FX traders, the Pipster app will be able to provide a simplified and smarter trading experience that we believe is essential to engage a new generation of traders,” said Rob Brockington, CEO of Finatext UK.

Japanese Collaboration

Z.com Trade is a member of the GMO Internet Group (TYO:9449), of which its internet securities provider GMO CLICK Securities Inc., is considered as one the world’s largest online retail forex providers by trading volume. The group has offices in London, Tokyo, Hong Kong and Bangkok, and offers FX, CFD and securities trading services worldwide. Earlier this year it announced the expansion of its cryptocurrency business with a new cloud mining service.

Finatext UK is the British branch of Finatext Ltd., a Tokyo based fintech firm, specializing in financial education apps, customized big data services and ‘Brokerage-As-a-Service’ solutions. It is authorized and regulated by the Financial Conduct Authority (FCA) under registration number 806585.

“I believe that this collaborative initiative, with a reputable fintech firm such as Finatext, is a stepping stone that will enable us to extend our trading services to a wider audience,” said Masahiro Funada, CEO of Z.com Trade.

Are Japanese companies eventually going to dominate regulated crypto trading volumes? Share your thoughts in the comments section below.

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Images courtesy of Shutterstock, Pipster.

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Source: Bitcoin.com