Online security trading platform Monex Group, which headquartered in Tokyo, Japan and the new owner of Coincheck soon going to launch its operations in US market.
The Japanese crypto trading platform Coincheck that was hacked earlier this year and acquired by Monex Group in April nearly around $33 million, expects to offer its revived online brokerage services after getting the license of operations and fulfilling the regulatory demands by FSA now ready to expand its full-fledged customer base in America probably by next month, revealed through a July 27, press release.
The document also mentions the establishment of TradeStation Crypto Inc. a cryptocurrency-dedicated subsidiary of securities brokerage firm TradeStation, which was bought by Monex in 2011.
Earlier, many onlookers expressed their verdicts as a dodgy investment on the acceptance of Coincheck by Monex Group. especially after the biggest hack of approx. $534 million till date, but the takeover has so far proven to be a positive move for Monex. As its shares have nearly doubled in price since the news of the acquisition broke in April.
Running a crypto business in the US may not seem like a great idea by the stakeholders, given that the company comes from Japan, a country known for its much friendlier crypto atmosphere.
Monex CEO Oki Matsumoto stated, “Japan may seem like it’s one step ahead in crypto, but in terms of deciding what’s a security or a token and attracting institutional investors, the U.S. and Europe are moving ahead.” In line with the comments, he mentioned conditions are more favorable in the West, including lower taxes and growing interest from institutional money managers.
But he further proclaimed “bringing the trading platform to the US is also part of the plans for the comeback.”