GMO Coin to add Ripple to offering

GMO Coin, the virtual currency trading subsidiary of GMO Internet Inc. (TYO:9449), has announced the pending enlargement of its cryptocurrency offering. Ripple is set to join the lineup on November 29, 2017.

The addition of Ripple happens about a month after the company added Litecoin to its offering. Other cryptocurrencies that clients of GMO Coin may choose from include Bitcoin, Bitcoin Cash and Ethereum. The company has also promised the addition of Ethereum Classic – this is set to happen at some point in December.

In the meantime, trading of virtual currencies has been troublesome for some clients of GMO Coin. Many experienced technical problems last week, related to the modification of IFD (If Done) and IFD-OCO (If Done – One Cancels the Other) orders. The problems were reported on November 22, 2017, and the company has confirmed that the issue was fixed and this types of orders can be used normally now.

The issues followed ones reported earlier in November. The first problems were reported around 23.00 (Japanese time) on November 13, 2017, with customers experiencing problems with exchange rates and with connecting to the platform. GMO Coin has dubbed the incident a “system failure” but did not provide any details on the cause for what had happened. The service was restored around midnight.

GMO Coin was launched in May this year, with GMO Internet continuing to push into the world of virtual currencies. In September this year, GMO Internet unveiled its plans to to launch a Bitcoin mining business. GMO Internet will operate a next-generation mining center utilizing renewable energy and cutting-edge semiconductor chips in Northern Europe. The launch is scheduled for the first half of 2018.

Another endeavor related to the crypto-world is GMO Blockchain Open Source Software Project (GMO Blockchain OSS) which continues to advance. The latest, sixth phase of the project focuses on payments.