The owner of Coincheck has made plans to launch a trading platform based in the US. Monex, the company which bought the hacked cryptocurrency exchange Coincheck made the announcement on the 27th of July.
The spring this time around will see the launch of the new cryptocurrency trading platform. The summary of the data from a financial briefing confirmed Monex’s plans to establish TradeStation Crypto Inc. as a subsidiary of TradeStation. The securities brokerage firm TradeStation, acquired by Monex in 2011 would effectively have a cryptocurrency-centric subsidiary.
According to the CEO of Monex, Coincheck will also resume full functionality by August. Monex acquired Coincheck in April for $33 million and Oki Matsumoto wants it back up and running.
The Chief Executive Officer had initially planned for Coincheck to resume operations in June. Delays from the Financial Services Authority of Japan made it a problem. The license to resume operations from the FSA was necessary. It is the chief financial regulator in Japan. Their delays kept pushing Coincheck’s revival back again and again according to Cointelegraph.
At a press briefing in Japan, Matsumoto stated that he was sure that they can obtain a license. Monex had already made investments into internal management and cyber security. That is what made the CEO of Monex so sure about the financial regulator’s approval.
Ever since Monex has taken over Coincheck, it has made sure that the cryptocurrency exchange functions properly. The cryptocurrency exchange is strictly complying with all regulations. This is a massive turnaround considering that the exchange lost more than $530 million back in January. This is being considered the largest hack in the industry so far – even bigger than the Mt. Gox debacle. It was considered the worst so far.
May saw officials from the newly acquired Coincheck remove certain altcoins. All the altcoins offering anonymity were taken off the cryptocurrency exchange’s list. That and the first announcement to move into US markets was also made in May. It made sense. Removing those cryptocurrencies makes it possible for them to move to a bigger market.
Matsumoto believes that while Japan may look like it’s ahead in the cryptocurrency world, it isn’t. Moving to the US market will give them that push for the institutional investors and expand their horizons. It seems like Japan is set to get on the path to become a major cryptocurrency world leader with their intention to move to US markets.
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