Monex Group Acquires Majority Stake in 3iQ
Japan-based Monex Group is acquiring a majority stake in Canadian crypto asset manager 3iQ. This collaboration will enhance the digital asset offerings for institutional investors and improve liquidity for Coincheck’s 1.8 million customers involved in the cryptocurrency industry.
A “Win-Win” Collaboration
The chairman and CEO of 3iQ, Frederick T. Pye, described the partnership as a “win-win” situation that could reshape the industry. The collaboration with Monex Group will help fulfill their mission of bringing regulated digital asset products to investors worldwide.
Facilitating Widespread Adoption of Digital Assets
Monex Group CEO, Yuko Seimei, expressed excitement about the partnership and emphasized its role in facilitating the widespread adoption of digital assets. By capturing the needs of institutional investors and crypto asset exchanges globally, Monex Group aims to achieve high growth in their asset management business.
3iQ’s Pioneering Achievements
As a crypto asset manager, 3iQ has been at the forefront of innovation. They were the first company in North America to launch regulated exchange-listed funds for Bitcoin and Ethereum. They also introduced Bitcoin and Ethereum ETFs on the Toronto Stock Exchange and unveiled the first-ever suite of crypto hedge fund managed accounts through their 3iQ Managed Account Platform.
Japan’s Crypto-Friendly Environment
Japan is known for being one of the most crypto-friendly nations in Asia. The country has recently shown support for Web3 and proposed eliminating corporate tax on unrealized gains from cryptocurrencies. Additionally, Japan’s stringent crypto regulations serve as a safeguard for customers, as seen when FTX Japan customers successfully resumed withdrawing their funds earlier this year.
Hot Take: Monex Group’s Acquisition of 3iQ Paves the Way for Crypto Expansion
The acquisition of a majority stake in 3iQ by Monex Group marks an important step towards expanding the crypto industry. This collaboration will not only enhance digital asset offerings for institutional investors but also improve liquidity for Coincheck’s existing customers. With Monex Group’s backing, 3iQ can accelerate its mission of providing regulated and innovative digital asset products to investors worldwide. This partnership also reinforces Japan’s position as a crypto-friendly nation and showcases its support for Web3. As the adoption of digital assets continues to grow, collaborations like this will play a crucial role in shaping the future of the industry.
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