Monex Group Announces Successful Completion Of Its Acquisition Of Coincheck Shares

Monex Group Announces Successful Completion Of Its Acquisition Of Coincheck Shares

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Apr 16, 2018 by Bitzamp
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Monex Group Announces Successful Completion Of Its Acquisition Of Coincheck Shares Earlier this Month Monex Group, a Japanese-based financial services firm, announced their interest in acquiring the Japanese cryptocurrency exchange, Coincheck. And today Monex Group, Inc. has announced a successful completion of its acquisition of 100% shares of Coincheck, Inc. Also Read: Confirmed: Monex To
Bitzamp

Monex Group Announces Successful Completion Of Its Acquisition Of Coincheck Shares
Earlier this Month Monex Group, a Japanese-based financial services firm, announced their interest in acquiring the Japanese cryptocurrency exchange, Coincheck. And today Monex Group, Inc. has announced a successful completion of its acquisition of 100% shares of Coincheck, Inc.

Also Read: Confirmed: Monex To Acquire Hacked Japanese Exchange Coincheck for $33.5 Mln

Earlier this year, Coincheck suffered a hack which left them hanging from a thread. During the hack, the exchange lost about $530 million US dollars worth of the XEM cryptocurrency. Many investors immediately lost confidence in the exchange and demanded that something be done, since the loss of these funds was called into question.

Monex acknowledged that it recognized blockchain technology and cryptocurrencies as next-generation technologies and platforms that are likely to drastically change the way people approach the issue of money. Therefore, since last October, the companies have considered entering the cryptocurrency exchange business and set up the Monex Cryptocurrency Lab.

The execution of the acquisition of shares was scheduled today April 16 at a price of 3.6 billion yen ($ 33.5 million). The acquisition based on Coincheck’s estimate of net assets at the end of the year in 2018.
Therefore, the Company has resolved on 100% share acquisition of Coincheck who has been a pioneer among cryptocurrency exchangers. Coincheck has become a wholly owned subsidiary of the company today.


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