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.”