Japan-based Monex Group, which operates online brokerage, cryptocurrency trading and asset management businesses, said on Thursday it plans to acquire a majority stake in Canadian crypto asset firm 3iQ Digital Holdings.
Monex Group CEO Yuko Seimei said in a statement: “Our long-term strategy is to strengthen our asset management business, and by welcoming 3iQ to our group, we aim to capitalize on the expected future growth among institutional investors and crypto. The crypto asset management needs of asset exchanges have achieved rapid growth.”
Monex Group acquired cryptocurrency exchange Coincheck in 2018, thereby growing its digital asset investment business. According to a statement from Monex Group, after investing in governance, internal controls and security, “it was registered as a crypto-asset trading service provider in Japan.”
Monex also owns TradeStation, a US-based online brokerage service. (The Block)