Ginco, Inc. is a Tokyo based cryptocurrency startup founded on December 21, 2017. There most recent success was earning 150 million yen, the equivalent of 1.4 million US dollars, from Global Brain during the seed round.
The money will be used towards the development of a virtual currency wallet that will use the Ethereum currency called Ether. This smartphone application will offer low fees for payments and the company plans to expand currency offering beyond Ethereum to include Bitcoin and ERC20 in the future.
Ginco plans to roll out their smartphone application on Apple devices through the App Store in February 2018, and Android users will be able to access Ginco’s wallet quickly thereafter rolling out in May. It will be dedicating the complete funds raised towards developing the system. Ginco has plans to expand based on market trends and eventually develop decentralized exchange offerings.
Although new to the cryptocurrency scene, Ginco has already achieved great success within its first month of operation. This success includes one thousand users pre-registering for the platform app. Currently Ginco has a team of twenty employees including three app designers who are working full time to develop the startup’s wallet app.
Ginco Cryptocurrency Wallet Investment Details
The founder of Global Brain Blockchain Labs, Global Brain is the sole investor in Ginco’s Wallet App development. Committed to supporting startups working within the cryptocurrency field to improve security and reliability of digital investments, Global Brain was founded by Yasuhiko Yurimoto in 1998 and has grown to a lead supporter for Japanese venture startups.
Global Brain has backed many startups similar to Ginco who are working to leverage better business practices and strategies both in Japan and worldwide. In addition to supporting digital commerce startups Global Brain also invests in media applications and a few game platforms.
Ginco caught the attention of Global Brain as a way to improve the reputation and reliability of cryptocurrency by improving user access and increasing security. Ginco’s wallet is a client type app which offers two main benefits, reducing the risk of hacking and improving security by giving users a way to manage their assets in the palm of their hand.
Client wallets also make direct exchanges between users easier and safer than using exchanges. Global Brain plans to support Ginco in not only developing their wallet app but also expand their platform to include strong partnerships within Japan and abroad. According to the Ginco company website (ginco.io) it appears that Ginco also aims to offer consulting to fellow startup businesses as their success grows.
The involvement of Global Brain backing Ginco has caught the attention of cryptocurrency investors throughout both Japan and the world. This is because Global Brains reputation is a long one that has propelled many venture companies into success especially regarding the up and coming field of digital currency. Global Brain’s website globalbrains.com is quite comprehensive outlining both current and past investments.