Coincheck Owner Mulls Addition of Crypto to Its Retail Offerings
Marie Huillet's orignal article for cointelegraph.com reduced by 54%
Online brokerage Monex Group Inc., owner of the hacked Japanese crypto exchange Coincheck, is considering adding crypto to its retail client offerings in a bid to become more competitive in the local brokerage market. As previously reported, Monex acquired Coincheck in April 2018 in the wake of the exchange's industry record breaking $532 million hack in January of that year. According to Bloomberg, Monex now sees its Coincheck involvement as potentially instrumental in restoring its erstwhile market dominance.
Monex's brokerage unit is thus mulling the addition of digital currencies to its offerings for retail clients in collaboration with Coincheck. As reported, under the stewardship of Monex, Coincheck took a series of measures to improve its protection and trading systems, as well as reimbursing those customers affected by the hack. In mid-November 2018, Coincheck resumed crypto trading and was granted an operating license from Japan's Financial Services Agency in December 2018.
Monex Group's financial report on Q3 for the 2019 fiscal year revealed that Coincheck had halved its losses in Q3, as compared with the preceding quarter.
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