Coin launch postponed for end of May as bitcoin soars Coin launch postponed for end of May as bitcoin soars

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The launch of Coin, the cryptocurrency of the Japanese conglomerate GMO Internet Co., is postponed for May 31, said the company in a statement.

We remind you that trading was supposed to start earlier this week, on May 24, with account applications open since May 9.

According to the announcement, the reason for the delay are the large number of transactions in bitcoin and the need for additional checks to ensure proper security and stability of the system and the trading platform. Coin was established as GMO Wallet Co. in the autumn of October 2016 with the purpose of setting up an exchange for trading in cryptocurrencies.

GMO, which also owns Japan’s largest forex and binary options brokerage GMO Click Securities, is one of the many Japanese companies who are showing increasing interest in cryptocurrency exchanges and services.

Other Japanese forex brokers that are taking a foray into cryptocurrency trading are Money Partners Group who teamed up with the exchange Zaif and, while the major bank MUFJ is planning to also launch its own cryptocurrency.

Meanwhile, the bitcoin reached new historical heights on May 25, peaking at a little over $2800, but dropping to around $2600 afterwards.

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