Monex Group, a major Japanese financial services company and the parent company of cryptocurrency exchange Coincheck, has unveiled its plan to launch a crypto exchange in the U.S. next quarter. The company has also shared its expansion plans for Coincheck in Japan.
Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations
Tokyo Stock Exchange-listed Monex Group (8698.T) held a business strategy briefing session on Wednesday to outline its U.S. expansion plan through its subsidiary Tradestation.
The group acquired Coincheck, one of Japan’s largest crypto exchanges, after it was hacked in January. Tradestation, a U.S.-based wholly owned subsidiary of the group, offers online electronic brokerage services to individual and institutional traders.
Monex CEO Oki Matsumoto said at the briefing that Tradestation “plans to offer virtual currency transactions … in the first quarter of 2019,” Reuters reported. Tradestation CEO John Bartleman was quoted by Coin Post as saying:
For cryptocurrency business, we have been preparing the virtual currency service in the U.S. for the past several months. We believe it can start in the first quarter of 2019.
Matsumoto also provided an update on Coincheck’s application to register as a cryptocurrency operator with Japan’s Financial Services Agency (FSA). “We have been consulting with the Financial Services Agency” about registration, he said, emphasizing that Coincheck resumed its exchange business last month. Currently, the exchange supports the trading of BTC, BCH, ETH, ETC, LSK, FCT, XRP, XEM, and LTC.
Monex detailed that since the acquisition of Coincheck, many improvements have been made to the platform, including a change in the management structure and delisting anonymous cryptocurrencies.
Nikkei Asian Review reported Coincheck’s President Toshihiko Katsuya explaining on Wednesday:
Coincheck plans to expand its services beyond trading into areas such as payments and transfers.
What do you think of Monex Group’s plans to expand in the U.S. and Japan? Let us know in the comments section below.
Images courtesy of Shutterstock, Monex Group, Tradestation, and Coincheck.
Need to calculate your bitcoin holdings? Check our tools section.
The post Japan’s Monex Group Launching Crypto Exchange in the US appeared first on Bitcoin News.
Source: NewsBtc
According to a recent survey by Fidelity Digital Assets, institutional investors, including US pension plans,…
Leading international cross border bank, Standard Chartered has predicted steep price declines for Bitcoin, foreseeing…
The United States Spot Bitcoin ETFS market is bleeding, with reports unveiling outflows exceeding $500…
On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As…
In a significant legal development for the crypto industry, Changpeng Zhao, widely known as CZ,…
In the face of a general market decline and pessimism, Captain Faibik, a cryptocurrency expert…