Is GMO Coin profitable?

GMO Coin does not disclose standalone profit figures. Parent GMO Internet Group states its cryptoasset segment is too volatile to forecast and discloses only monthly operating indicators like trading volume and account numbers, per its Q1 FY2026 results filed May 15, 2026.

GMO Coin is a wholly owned subsidiary of GMO Financial Holdings, itself under TSE Prime listed GMO Internet Group (9449). GMO Financial Holdings completed a simplified share exchange to make GMO Coin 100% owned in March 2023.

Is GMO Coin going public?

Yahoo News reported on February 5, 2026 that GMO Internet Group disclosed GMO Coin is preparing for a Tokyo Stock Exchange listing, a potential change from its current status as a private subsidiary.

Who is GMO Coin's biggest competitor?

bitFlyer ranked ahead of GMO Coin in a March 9, 2026 survey of high income crypto holders, where GMO Coin tied for second at 26.9 percent. SBI Holdings also threatens via its JPYSC yen stablecoin approved June 23, 2026.

Could AI replace GMO Coin?

AI can automate customer support, KYC document checks and content, but cannot replicate GMO Coin's core moat: its Crypto-Asset Exchange registration (No. 00006) and Type I Financial Instruments license (No. 3188) issued by Japan's Kanto Local Finance Bureau.

Is it safe to keep money on GMO Coin?

GMO Coin operates under Japan's post-Coincheck-hack licensing regime, holds registrations 00006 and 3188, and caps leveraged crypto FX at 2x since April 2021, down from 25x, under regulatory tightening after industry breaches.

Crypto and digital asset companies · subsidiary of GMO Financial Holdings, Inc. (itself controlled by GMO Internet Group, Inc., TSE Prime: 9449) · Japan

GMO Coin

coin.z.com ↗

Licensed Japanese crypto exchange, wholly owned by GMO Internet Group.

Protection under test

Assessed 25 July 2026 · Evidence as of 25 July 2026

Something worth protecting exists and is being tested right now.

On the recordSince 25 July 2026 · Checkable from June 2026 · Every call on the record Checkpoint: SBI/Startale JPYSC yen stablecoin launch

The call

GMO Coin sits among Japan's top licensed exchanges, protected by regulation and group distribution, while bank-issued stablecoins from SBI and megabanks approach its settlement business in 2026.

GMO Coin lets people in Japan buy, sell, and trade cryptocurrencies, and it has official government permission to operate as one of the country's top three licensed exchanges. The company benefits from being connected to GMO Group's banking and investment services, which makes it easier for customers to deposit money and use multiple products in one place. However, SBI VC Trade and other rivals have similar licenses and connections, and they are not harder to copy because SBI Holdings is a huge financial company building its own competing products, including a yen stablecoin launching in mid-2026, and major banks like MUFG are also entering the market. The one thing that could shift the situation is whether GMO Coin launches or partners on its own yen stablecoin before customers start moving their money directly through bank-issued digital currencies instead of trading on the exchange, which would shrink GMO Coin's fees from deposits and withdrawals.

Why

AI pressure: None apparent. No AI product or lab targets crypto exchange trading directly; the visible threat here is bank-issued stablecoins, not AI. Could AI do the core job? Unlikely.

Bigger players: SBI Holdings / SBI VC Trade. SBI and Startale plan a yen stablecoin (JPYSC) for June 2026 that could pull settlement flow away from exchanges like GMO Coin. Could a giant copy it? Probably.

What protects it. Holds crypto exchange license No. 00006 and Type I FIEL registration, plus GMO Group cross-sell and instant-deposit ties with Aozora Net Bank.

What would change this call

SBI/Startale JPYSC yen stablecoin launches June 2026 and GMO Coin has no comparable product. Would show GMO Coin losing settlement-rail relevance to SBI.
GMO Coin's TSE listing preparation (disclosed Feb 2026) advances to formal filing or is withdrawn. Would show whether financial health supports growth or hides unresolved issues.
MUFG Trust or megabank stablecoin launches in FY2026 with visible deposit/withdrawal volume shift. Would show fee-capture erosion from bank-issued settlement rails.

Key numbers

Ranked 2nd in BTC/JPY spread competitiveness among Japan exchanges (Nov 2025)
TSE listing preparation disclosed by GMO Internet Group (Feb 5, 2026)
Holds exchange license No. 00006 and FIEL registration No. 3188 (current)

Named risks

Yen stablecoin launches by SBI and megabanks could erode fee capture on deposits and withdrawals. Severity: high
No standalone financial disclosure; capital figures inconsistent across 2023 and 2026 sources, raising opacity concerns. Severity: medium
Regulatory shift toward treating crypto as a financial product (金商法移行) could reshape leverage and product rules. Severity: medium
Revenue dependent on crypto market volatility and trading volume rather than diversified fee streams. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
SBI Holdings / SBI VC Trade	gaining on	SBI/Startale JPYSC yen stablecoin reported approved June 23, 2026, targeting settlement rail relevance
bitFlyer	losing to	Ranked above GMO Coin in high income holder survey, GMO Coin tied 2nd at 26.9% as of March 9, 2026
Coincheck	contesting	Monex-affiliated peer competing in same domestic licensed exchange tier, late 2025 comparisons
MUFG Trust / megabanks	gaining on	MUFG Trust plans yen stablecoin launch in FY2026, announced Feb 14, 2026; megabank joint stablecoin announced Nov 17, 2025

Questions people ask

Is GMO Coin profitable?: GMO Coin does not disclose standalone profit figures. Parent GMO Internet Group states its cryptoasset segment is too volatile to forecast and discloses only monthly operating indicators like trading volume and account numbers, per its Q1 FY2026 results filed May 15, 2026.
Who owns GMO Coin?: GMO Coin is a wholly owned subsidiary of GMO Financial Holdings, itself under TSE Prime listed GMO Internet Group (9449). GMO Financial Holdings completed a simplified share exchange to make GMO Coin 100% owned in March 2023.
Is GMO Coin going public?: Yahoo News reported on February 5, 2026 that GMO Internet Group disclosed GMO Coin is preparing for a Tokyo Stock Exchange listing, a potential change from its current status as a private subsidiary.
Who is GMO Coin's biggest competitor?: bitFlyer ranked ahead of GMO Coin in a March 9, 2026 survey of high income crypto holders, where GMO Coin tied for second at 26.9 percent. SBI Holdings also threatens via its JPYSC yen stablecoin approved June 23, 2026.
Could AI replace GMO Coin?: AI can automate customer support, KYC document checks and content, but cannot replicate GMO Coin's core moat: its Crypto-Asset Exchange registration (No. 00006) and Type I Financial Instruments license (No. 3188) issued by Japan's Kanto Local Finance Bureau.
Is it safe to keep money on GMO Coin?: GMO Coin operates under Japan's post-Coincheck-hack licensing regime, holds registrations 00006 and 3188, and caps leveraged crypto FX at 2x since April 2021, down from 25x, under regulatory tightening after industry breaches.

Timeline

2026-06-23SBI and Startale's JPYSC yen stablecoin reported approved for issuance
2026-02-14MUFG Trust announces plan to launch a yen stablecoin in FY2026
2026-02-05Yahoo News reports GMO Internet Group disclosed GMO Coin is preparing TSE listing
2025-11-17Megabank joint yen stablecoin project announced per CoinDesk Japan
2025-05-21GMO Coin delists six low liquidity tokens including NEM and Monacoin
2025-01-14GMO Coin launches Ethereum staking service
2023-09-07GMO Coin completes merger absorbing FX Prime byGMO's forex margin business
2023-03GMO Financial Holdings makes GMO Coin a 100% owned subsidiary via share exchange
2021-04Japan caps leveraged crypto FX at 2x, down from 25x
2017-08GMO-Z.com Coin renamed to GMO Coin, Inc.

Revision history

25 July 2026

First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.

In the same band

Chainalysis Grayscale Investments Hive Digital Technologies

More in Crypto and digital asset companies →

Sources