Monex Group Acquires Shares of Coincheck Inc.
Announcement posted by Profile Booster 11 Apr 2018
Tokyo-based Monex Group, Inc. has announced the acquisition of 100% of Coincheck, Inc.
In a statement about the acquisition, Monex Group said:
We recognise blockchain technology and cryptocurrencies as next-generation technologies and platforms which are likely to drastically change the way people approach money. Therefore, since we announced “MONEX’s new beginning” last October, we have considered entering the cryptocurrency exchange business and set up the Monex Cryptocurrency Lab to grow our business based on these new technologies.
Most especially, 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 who has been a pioneer among cryptocurrency exchanges.
Coincheck is in the process of enhancing its governance and internal control after receiving the business improvement order from the Kanto Local Finance Bureau concerning the theft of cryptocurrency, NEM, as a result of unauthorized access to its system on January 26, 2018. We aim to build a secured business environment for customers by fully backing up Coincheck's enhancement process. Specifically, we will maximize the use of our expertise and human resources of business administration, system risk management, and customer asset protection system that we have cultivated since the establishment of the online securities industry. We will support Coincheck to provide a secure environment to customers and to grow sustainably as a socially valuable cryptocurrency exchanger.
Through integrating Coincheck’s knowledge on blockchain technology and cryptocurrency with our knowledge of the financial industry, we will accelerate the “MONEX’s new beginning” and contribute to the sound development of the cryptocurrency industry. The Company and Coincheck aim to develop a common vision to design the way of finance of the future and provide new value.
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About Monex Group, Inc.
Monex Group is one of the leading online brokers in Japan with subsidiaries in US, Hong Kong and Australia. Monex Group was founded by Oki Matsumoto to support the individual investor’s investment and economic needs with world-class financial service.