A major financial services company of Japan, Monex Group, along with its parent company Coincheck has announced that they are all set to launch cryptocurrency exchange in the United States in the coming quarter. Coincheck cryptocurrency exchange has also revealed its plan of expanding in Japan.
Monex Group’s Expansion Plan in the USA
A business strategy briefing session was held by the Monex Group recently. The session was meant for outlining its expansion plan in the United States. Reports say Monex Group will carry out the US expansion through its subsidiary Tradestation.
Oki Matsumoto, the CEO of Monex Group, said during the briefing session that virtual currency transactions will be offered in the US by Tradestation in Q1 of 2019.
John Bartleman, CEO of Tradestation, said:
“For cryptocurrency business, we have been preparing the virtual currency service in the U.S. for the past several months. We believe it can start in the first quarter of 2019.”
Reports say the Monex Group’s crypto exchange in the US will list top 5 cryptos. However, the actual list is not yet available. Currently, the company is in the process to acquire money transmitter licenses in all states of the US.
Monex Group’s Expansion Plan in Japan
Monex Group CEO, Oki Matsumoto, also said during the business strategy briefing session that Coincheck has applied for registering as an operator of the cryptocurrency with FSA (Financial Services Agency) of Japan. While revealing the current status, he went on to say that they are currently consulting with the FSA about the registration. After the acquisition of Coincheck crypto exchange by Tradestation, the exchange has reportedly started its business last month. It now supports 9 cryptocurrencies –
- Bitcoin (BTC)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Ethereum (ETH)
- Ethereum Classic (ECH)
- Lisk (LSK)
- Factom (FCT)
- NEM (XEM)
- Litecoin (LTC)
Toshihiko Katsuya, Coincheck’s CEO, said that they are planning to expand their offered services beyond the usual crypto trading areas. Their expansion plans in Japan include the establishment of payment and transfer services.
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