Ginco Inc. — Japan B2B blockchain custody infrastructure provider
#fintech#jp-custody#ginco#wallet-infra#b2b-crypto
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This entry sits under exchanges index. Read it with FSA crypto-asset exchange registration system — number system / Local Finance Bureau jurisdiction / registration requirements for adjacent context and Japan Financial Regulation — Legal Framework for Tokens, Crypto Assets, and Payments for the broader system boundary.
A B2B infrastructure provider rather than a VASP · non-member of JVCEA · no FSA crypto-asset-exchange-business registration · established 2017-12-21
1. Corporate entity / shareholders
- Trade name: Ginco Inc. (株式会社Ginco; English: Ginco Inc.)
- Established: 2017年12月21日
- Head office location: 27-4号, 3-chome Hatchobori, Chuo-ku, Tokyo 〒104-0032
- Capital: 1億円 (as stated on the official site)
- Representative: Ryo Sakane (as of 2026年4月 · after the management-structure change described below)
- Founder: Muyuto Morikawa (started R&D in 2016年10月, founded the company in 2017年12月)
- Major investors (publicly disclosed, in chronological order):
- 2018年1月: third-party allotment of new shares from Global Brain
- 2020年4月: third-party allotment of new shares from DBJ Capital
- 2021年11月: third-party allotment of new shares from Miyako Capital, DBJ Capital, and Mitsubishi UFJ Capital
- Main banks: MUFG Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank
- Listing status: unlisted (an independent startup · as of 2026-05 )
2. License / registration status
- Crypto-asset-exchange-business registration: none (because it is a B2B infrastructure provider rather than a VASP)
- JVCEA membership: non-member (out of scope because it does not directly conduct the buying / selling / exchange of crypto assets)
- Affiliated organizations (publicly disclosed):
- Fintech Association of Japan (general incorporated association)
- Japan Cryptoasset Business Association (JCBA) (general incorporated association)
- Japan Security Token Association (JSTA) (general incorporated association)
- JP Crypto ISAC (general incorporated association)
- Certifications / standards: SOC 2 Type II (AICPA-certified), SGS certification obtained (per the logo display on the official site)
3. Handled currencies
Because the company does not directly provide buying / selling / custody services for crypto assets to individuals or corporations, “handled currencies” is defined as the number of supported assets as B2B infrastructure that supports its client VASPs.
- Ginco Enterprise Wallet support: centered on Bitcoin and Ethereum, it advertises domestically top-tier blockchain support, including ERC20 tokens (addable in as little as 2 weeks) and proprietary-blockchain currencies (addable in as little as 1 months)
- Consumer-facing Ginco Wallet: a self-custody-type mobile wallet supporting Bitcoin, Ethereum, and several other assets (provided from 2018年4月)
- A specific official list of supported assets is not posted on the official site · “not disclosed”
4. Scope of business
The company is not a crypto-asset-exchange operator (VASP) but is classified as a B2B infrastructure-provider firm for crypto-asset operators. Rather than conducting the buying / selling / brokering / custody of crypto assets in its own name, it provides the systems and technical infrastructure for VASPs and others to carry those out.
Main products / services
| Service | Content |
|---|---|
| Ginco Enterprise Wallet | A cold / hot wallet integrated-management system utilizing an HSM (hardware security module). No. 1 in domestic B2B crypto-asset-wallet adoption share (as of the 2021年8月 announcement) |
| GEW Monitoring Solution | A business monitoring tool that integrates and manages multiple wallets |
| Ginco Web3 Cloud | A general-purpose blockchain development platform at financial-institution level (supporting public / private) |
| Web3 Professional Service | End-to-end business-creation support, from planning and requirements definition to development |
| Ginco Wallet | A consumer-facing self-custody-type mobile wallet app (provision started 2018年4月) |
Supported business domains
- Crypto-asset exchanges (wallet provision to FSA-registered VASPs)
- Financial institutions (securities companies, trust banks, etc.)
- NFT service infrastructure (NFT BASE)
- Security-token (ST) custody systems
- Web3 consulting / node hosting
5. Market share / positioning
- Domestic B2B crypto-asset wallet: in 2021年8月 the company announced that “the business crypto-asset-exchange-operator-facing wallet Ginco Enterprise Wallet is the top domestic share.” Specific figures (number of companies / percentage) are not disclosed.
- Customer base: domestic FSA-registered crypto-asset-exchange operators, securities companies (Mizuho Securities, Daiwa Securities Group, etc.), trust banks (Mitsubishi UFJ Trust and Banking, etc.)
- Competitors: internationally, Fireblocks — global MPC custody infrastructure provider (Japan rollout) has already entered the Japanese market. Komainu — institutional digital-asset custody specialist provides institutional custody. Among domestic peer infrastructure there are system vendors of the Liquid lineage and others, but Ginco differentiates itself on “all in-house development” and the “most supported chains domestically.” The company’s position is detailed in Japan Institutional Custody Three-Pillar Structure — Komainu / Ginco / Fireblocks Japan Comparison.
- Toyo Keizai “Amazing Ventures 100”: selected in 2023年9月
6. History / major events
| Year/month | Item |
|---|---|
| 2016-10 | Founder Muyuto Morikawa started a blockchain R&D business |
| 2017-12 | Ginco Inc. founded |
| 2018-01 | Third-party allotment of new shares from Global Brain |
| 2018-04 | Japan’s first multi-blockchain-compatible wallet app provided |
| 2018-09 | Won the Tech in Asia 2018 Tokyo Grand Prix and the Nikkei FIN/SUM UK Award |
| 2019-01 | Started providing blockchain-utilization solutions for businesses |
| 2019-02 | Partnered with Microsoft, started a fully managed blockchain-node service |
| 2019-02 | Started providing a business crypto-asset-wallet service |
| 2019-07 | Selected for the Ministry of Economy, Trade and Industry’s “J-LOD” blockchain-utilization program |
| 2020-04 | Third-party allotment of new shares from DBJ Capital |
| 2021-08 | Ginco Enterprise Wallet became the top domestic share (company announcement) |
| 2021-09 | Started providing the NFT-service development platform “Ginco NFT Base” |
| 2021-11 | Third-party allotment of new shares from Miyako Capital, DBJ Capital, and Mitsubishi UFJ Capital |
| 2022-07 | Participated in Mizuho Securities’ security-token proof-of-concept experiment |
| 2023-06 | Participated in a comprehensive Web3 / digital-asset proof-of-concept by Sumitomo Mitsui Trust Bank and Trust Base |
| 2023-08 | Realized a crypto-asset trust service with Mitsubishi UFJ Trust and Banking |
| 2023-11 | Collaborated with Mitsubishi UFJ Trust and Banking and Progmat to begin cross-industry SC development for the crypto-asset industry |
| 2024-03 | Issued an ST on a public chain with Daiwa Securities Group |
| 2024-05 | Established an Indian subsidiary as an overseas development base |
| 2026-04-01 | Change in management structure (no details disclosed) |
7. Strategic developments (recent 12 months)
- 2025-09: Partnered with Membrane (UK-based), a lending & derivatives manager. Provides a Bitcoin-holding-plus-management solution
- 2025-11: Built a partnership with UPBOND. Creating use cases in the DID/VC × Crypto domain
- 2025-11: Min Brian appointed as new CISO. Strengthens IT governance / external collaboration
- 2025-12: Collaborated with Babylon Labs to promote “BTCFi 2.0” in Japan (Bitcoin staking/earning functions)
- 2025-12: Participated as a validator in the Canton Network (an enterprise blockchain of the Goldman Sachs / Digital Asset lineage)
- 2026-01: Concluded a Web3 -domain partnership with GVA Law Office
- 2026-03: Supported a web3 -technology-introduction verification in Ebara Corporation’s “Ebara Brain Project”
- 2026-04: Change in management structure (presumed to be a handover of the representative role from Muyuto Morikawa to Ryo Sakane, but the details are not disclosed)
Direction of strategy: it is diversifying from exchange-facing wallets, to ST and crypto-asset trust infrastructure for financial institutions (trust banks, securities companies), and further to next-generation Web3 infrastructure such as BTCFi and DID. The establishment of a development base in India is seen as a move to strengthen cost competitiveness and expand talent. As Fireblocks (US) strengthens its direct sales to major Japanese financial institutions, Ginco maintains a stance of using the “depth of domestic regulatory compliance” and the “flexibility from all-in-house development” as its competitive advantages.
8. Related people
- Muyuto Morikawa: founder and former Representative Director CEO. Started blockchain R&D in 2016年, founded the company in 2017年12月. Presumed to have stepped down in the management-structure change of 2026年4月 (details undisclosed)
- Ryo Sakane: Representative Director (as stated on the official site as of 2026年4月)
- Min Brian: CISO. Appointed in 2025年11月. Responsible for strengthening IT governance and external collaboration
Related
- japan-financial-regulation — Japan financial regulation as a whole
- jp-trust-type-sc-architecture — related ST (security token) system
- japan-stablecoin-regulatory-landscape — related stablecoin system
- jp-exchange-bittrade — an example of a VASP customer
- jp-institutional-custody-three-pillars — JP institutional custody, the three pillars
- jp-custody-fireblocks-japan — Fireblocks Japan (competitor)
- progmat — Progmat (collaboration partner)
- jp-vasp-cold-storage-segregation-rules — JP VASP cold-storage segregation rules
Sources
- Ginco basic information / history (retrieved 2026-05-18)
- Ginco company-information top (retrieved 2026-05-18)
- Ginco Enterprise Wallet service details (retrieved 2026-05-18)
- Ginco news list (retrieved 2026-05-18)
- Ginco business domain (crypto-asset-exchange-facing) (retrieved 2026-05-18)