Monex Group Will Purchase a Majority Stake in 3iQ

Investment company Monex Group, which is based in Japan, has announced its intentions to acquire a majority share in 3iQ Digital Holdings, a brokerage firm, asset manager, and cryptocurrency exchange.

The decision was influenced by 3iQ’s successful listings of Bitcoin and Ethereum exchange-traded funds (ETFs) in North America, as well as its potential for growth in the emerging market of institutional investors and exchanges involved in the crypto industry.

The CEO of Monex, Yuko Seimei, expressed the company’s long-term goal to strengthen its asset management business, with the acquisition of 3iQ being a vital step towards achieving high growth.

In addition, 3iQ CEO, Frederick Pye, stated that the firm aims to collaborate with Monex’s crypto exchange subsidiary, Coincheck, following the acquisition.

Monex acquired Coincheck in 2018 after it was hit by a massive hack that resulted in the loss of approximately $534 million worth of NEM tokens.