Monex, Japan's No. 3 Online Brokerage Platform, has officially entered the digital currency market by an acquisition with Coincheck for 3.6 billion yen ($ 33.5 million).
Monex has announced that it will acquire 100 percent of shares of Coincheck Inc, which is worth 3.6 billion yen or $ 3.6 billion, according to a Monex press release April 6. The Agreement about this acquisition is also signed on that day.
Monex's current Managing Director, Toshihiko Katsuya, will assume the post of Chairman of Coincheck, while Monex Chairman Oki Matsumoto will personally be a member of the new Board of Directors of this Tokyo-based exchange.
“We recognize blockchain technology and
cryptocurrencies as next-generation technologies and platforms which are likely to drastically change the way people approach money,” the company said.
As the world's fifth-largest brokerage platform in 2017, Monex began exploring and developing Blockchain applications through the founding of the Money Cryptocurrency Lab in October 2017 as the way to take the initiative in receiving this new type of financial technology.
Highlighting its efforts to participate in its e-money segment, this online brokerage firm announced:
“The cryptocurrency exchange business plays a core part in a vision of Monex’s new beginning. Therefore, the company has resolved on 100% share acquisition of Coincheck.”
From this incident, Bitcoin price is expected to increase.
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