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Japan's Monex Looking To Develop Its Own Proprietary Blockchain and ICO

The Japanese online brokerage firm, Monex, who recently acquired the cryptocurrency exchange Coincheck, is looking to develop its own blockchain platform with an ICO to follow.

Monex, which has a US division in addition to their Asia-Pacific region, made a financial filing on April 26, 2018, that speaks of its Japanese arm making the change for blockchain. It reads in part,

"Japan segment will use blockchain technology for the aim of executing all the trading of financial products and every financial transactions in safety and at low cost. Creating our own blockchain and its ICO are in the scope."

The filing gave no further hints as to the company’s plan to create their proprietary blockchain and its ICO.

Just last week Monex Group Inc., which is the third largest brokerage firm in Japan, completed its acquisition process of Coincheck, a deal worth $33.5 million US dollars.

In late January of this year Coincheck suffered the largest theft in the history of cryptocurrency after hackers were able to take away an estimated $533 million in the form of 500 million NEM tokens. The tokens were taken from Coincheck’s digital wallets. Despite the massive theft, Coincheck is still one of the largest crypto exchanges in Japan showing no signs of slowing down.

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Jack Taylor is a freelance journalist who has contributed to many award winning media outlets on a wide range of topics regarding trending technologies, cryptocurrency, blockchain & digital privacy.
Tennessee