Japan, Monex evaluates Coincheck's purchase

Japan, Monex evaluates Coincheck's purchase. A news revived by the Japanese media Nikkei, awaiting confirmation.

Japan, Monex evaluates the purchase of Coincheck - coincheck

According to what is leaking in these hours, the Japanese online broker Monex Group is considering the purchase of Coincheck, the local cryptocurrency exchange, hit by a $ 530 million theft earlier this year.

The company gave no details, but the newspaper Nikkei stated that the agreement could be worth "several billion yen" and that an announcement is likely this week. The representatives of Coincheck they specified in an e-mail that the Nikkei report does not contain anything that the company has already announced, without however clearly denying the incident.

It is clear that the agreement would allow Monex to access the customer base of Coincheck, which saw a surge in their volume thanks to the rapid growth of the cryptocurrency sector. And it is also clear how important such a move can be for shareholders: Monex prices have appreciated significantly in the hours following the announcement.

Also according to the Nikkei, the managing director of Coincheck Koichiro Wada and another manager will be replaced, then adding that Coincheck e Monex have already defined the plan for regulatory authorities and for major investors.

Coincheck, which underwent one of the biggest digital money bouts in history in January, was the focus of an investigation by the Japanese Financial Services Agency, which called for improved risk management to prevent further criminal use of digital money.

The robbery conducted on Coincheck had greatly raised the risks associated with cryptocurrency trading, and had shaken all of Japan, which became - among other things - the first country to regulate the cryptocurrency sector by requiring all exchanges to register with the authorities of reference.