Japanese online trading giant GMO Click has just disclosed its April 2017 metrics, showing a slowdown in its monthly FX trading volumes.
Going Past the Great Wall: Things to Consider When Entering the Asian MarketGo to article >>
Trading volumes for April 2017 came in at just ¥39.2 trillion ($348.2 billion), a decline of 15.5 percent month-over-month from ¥46.4 trillion ($418.5 billion) in March 2017. This figure is weak compared with the month prior, and GMO Click’s latest reading is also substantially below that of January (¥60.5 trillion) and February as well (¥42.6 trillion).
April 2017’s trading volumes also came in very low when measured over a year-over-year basis, declining by about 28 percent from ¥54.4 trillion ($483.3 billion) in April 2016.
It was recently reported that the brokerage’s parent company, GMO Internet, Inc. (TSE: 9449), is among a number of Japanese firms who are in the process of applying for a Japanese bitcoin exchange license according to the Japan Cryptocurrency Business Association.