Monex Group, a new owner of cryptocurrency exchange Coincheck, plans to build its own blockchain platform and conduct an initial coin offering.
Japanese financial services provider Monex Group announced 100% share acquisition of Coincheck. The deal is planned for April 16.
Coincheck, the cryptocurrency exchange that suffered the largest theft earlier this year, has accepted a takeover bid by Japanese online brokerage Monex Group Inc.
Following a recent hack resulted into $533 million-worth theft of the NEM token from Coincheck, a group of 16 registered Japanese cryptocurrency exchanges joins forces to establish a self-regulatory body in April.
Major hack in Japan has become a reason of considering a necessity to create a new entity that will regulate the cryptocurrency industry in the country.
Japan’s financial watchdog ‘FSA’ has raided Coincheck in order to “ensure the preservation of clients’ assets.”
Coincheck has been asked to submit a report by Feb 13 stating the reasons of security loopholes and work further on restoring the issues.