Ginco, a Japanese cryptocurrency wallet company, has announced that it is currently developing a dedicated service package for cryptocurrency exchange businesses. The blockchain node hosting service will allow exchanges to expand the number of blockchains they support in a short amount of time.
Ginco will be offering the development of a white label crypto wallet for exchange businesses. The aim is to provide exchanges with new opportunities to grow and also to achieve a meaningful cost reduction.
After Japan’s revised Payment Services Act, strict and stable management systems and business operations are now required for all Japanese crypto exchanges. The outcome of these strict standards has left many businesses to flounder under the weight of compliance, limiting expansion, and constricting resources.
Ginco’s node hosting service enables support of new blockchains, quickly and cheaply.
Businesses operating in blockchain are under a constant need to adapt to changing laws and industry-specific incidents such as hard forks and node updates. This can make it difficult to focus on other areas of business.
Available blockchain nodes from Ginco include:
- Bitcoin
- Bitcoin Cash
- Litecoin
- Ethereum
- Ethereum Classic
- EOS
- XRP
- Stellar Lumens
- TRON
A private key is kept securely within a dedicated cryptographic module (HSM), with a multi-signature system applied, distributing control over transactions. Extra security is added by utilizing a fully-private network, disseminating authorization for transactions, making it extremely resilient.
Ginco is fully compliant with regulations, allowing exportation of audit logs and providing functions to help manage audited users. In order to protect against asset loss, Ginco next plans to partner with insurance companies in preparation of potential risks other than system-related hazards.