Monex Purchased Coincheck For $33.6M

Monex shares rose after the announcement of the deal by 20%
06 April 2018   901

Japanese online broker Monex Group announced that it buys the local currency exchange Coincheck. This is reported by the Reuters.

The transaction amount is 3.6 billion yen ($ 33.6 million). As a result of the transaction, Monex will have access to the trading platform and the Coincheck customer base. Monex shares rose after the announcement of the deal by 20%, in general, from the time when the first information about the possibility of such acquisition appeared, online broker shares rose by 40%.

Monex Group Inc CEO Oki Matsumoto (L) and Coincheck CEO Koichiro Wada
Monex Group Inc CEO Oki Matsumoto (L) and Coincheck CEO Koichiro Wada 

Coincheck is a global pioneer of the cryptocurrency business, a global brand. Although we can manage risk, we can’t make Coincheck’s brand value or foundation.
 

Oki Matsumoto

CEO, Monex

At the beginning of this year, NEM coins equivalent to 58 billion yen ($ 527 million) were withdrawn from the accounts of the Japanese currency exchange Coincheck. The amounts went to 20 addresses, including, as Kyodo reports, in the US and New Zealand. The Japanese police assume that a computer virus was used for this theft. Theft touched accounts of 260,000 Coincheck customers.

After this incident, the Japanese financial regulator announced its intention to conduct an audit of all the country's crypto-exchange exchanges

Caspian to Launch Crypto Derivatives Trading

Caspian does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x
21 March 2019   83

Caspian, an asset-oriented asset management platform, has launched cryptocurrency derivatives trading.

Thanks to integration with Deribit, Caspian customers gained access to trading in futures and options for Bitcoin and Ethereum. Also, the platform will provide the opportunity to trade indefinite bitcoin-swap.

According to Caspian, the platform does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x.

We are excited to be working with Deribit to make the trading of crypto options and futures possible within the institutional community. Our goal at Caspian is to provide crypto traders and investors the same standard of tools and service that exist in the traditional markets and its great knowing that the team at Deribit is working towards the same high standards.
 

Robert Dykes

CEO, Caspian

Caspian noted that their platform connects to Deribit via an API that supports “large trading volumes with extremely low latency”. The platform also has full access to the book of orders of the crypto-derivative stock exchange.