Monex Group, an online brokerage company based in Tokyo, took an interest in FTX Japan, one of the four assets put up for sale by FTX. Monex CEO Oki Matsumoto stated that they are interested and that it will be a "really beneficial thing" for them if there is less rivalry in the local market.
The Japanese cryptocurrency industry, according to Matsumoto, has a lot of promise because businesses may be considering employing nonfungible tokens for their marketing campaigns or investing in digital assets.
When that moment comes, the CEO of Monex claims that the company wants to be one of the few choices for regional players.
Additionally, Monex has a majority stake in Coincheck, a Japanese bitcoin wallet, and
trading service. Last year, the company announced its intention to float Coincheck on Nasdaq. There have been no modifications to their intentions to put Coincheck on the Nasdaq exchange, claims Matsumoto.
FTX Japan is one of the four FTX assets that have been given the go-ahead to be sold during the bankruptcy process. The stock-clearing platform Embed, the derivatives platform LedgerX, and FTX Europe, the exchange's European business, are among the additional assets. The court permits buyers to investigate the assets up for sale and do their due diligence.
Not just Monex is interested in the FTX asset. On Jan. 10, a court document revealed that over 117 companies had expressed interest in buying the assets of the troubled exchange. 41 buyers are reportedly investigating FTX Japan, according to the information.
FTX Japan's cash and deposits totaled approximately 17.8 billion yen and its net assets totaled 10 billion yen at the end of September. Beginning the following month, the business intends to permit consumers to withdraw their money. By mid-January, FTX Japan's customers will become Liquid clients, and by mid-February, they will be able to access their funds and assets once more. After acquiring the client book and doing balance checks, Liquid will begin managing the transaction.
