Monex Group shows interest in buying FTX Japan

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Investment advisory firm Monex Group expresses interest in acquiring FTX Japan, Japanese subsidiary of bankrupt exchange FTX, Bloomberg News report January 16th.

Monex Chief Executive Hiroki Matsumoto told Bloomberg that less competition in the domestic market would be a “very good thing” for the company. Matsumoto said, “Basically, of course, I’m interested.”

Furthermore, Matsumoto said there are many possibilities for the Japanese crypto market, as Japan’s liberal regulation may allow companies to use non-fungible tokens for marketing campaigns or invest in digital assets. said to be sexual.

Monex’s CEO therefore wants to establish the company as one of the most preferred choices for local customers.

As part of Monex, Inc.’s diversification, Acquired Coincheck., an exchange attacked by hackers in 2018. Acquired the company to strengthen its portfolio of equities and forex services.Monex too bought 100% stock Joined ChatBook Ltd. in July 2022.

FTX Japan allows customers to withdraw funds

Formerly known as Liquid, FTX Japan provided spot and derivatives trading services. A US court previously approved the sale of FTX’s Japanese and European subsidiaries while the company was still in bankruptcy proceedings.

As of the end of September, FTX Japan had approximately ¥10 billion ($78 million) in net assets and ¥17.8 billion ($13.88 million) in cash and deposits. The company expects its customers to be able to withdraw money next month.

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