Monex Group Bid For Coincheck Could Affect Two Markets

Investing.com - Japanese online brokerage firm Monex Group's interest in acquiring cryptocurrency exchange operator Coincheck has implications for both the Japanese and U.S. markets. With 32 crypto exchanges already in operation in Japan, the market there is crowded. Traditional financial firms may find it easier to acquire an existing player than to wait for regulators to approve their application to launch an exchange of their own.Another financial services firm, SBI Holdings, won approval to start an exchange last year but has delayed the launch until it works out security issues.Monex also owns the U.S. online brokerage firm TradeStation, which started offering bitcoin futures trading this year. TradeStation also provides real-time market data on bitcoin and several other cryptocurrencies.In the future, Monex could use its experience in Japan to launch cryptocurrency trading on TradeStation, in an effort to compete with investing app Robinhood, which recently introduced Bitcoin and Ethereum trading in five states.

(Source: Investing TV, April 5, 2018 at 06:39AM)

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