INTERVIEW: Monex Still Aims to List Crypto Unit on Nasdaq

Economy

Tokyo, Dec. 7 (Jiji Press)--Japanese online broker Monex Group Inc. <8698> still aims to list cryptocurrency exchange unit Coincheck Inc. on the U.S. Nasdaq stock exchange, its CEO, Oki Matsumoto, said in a recent interview.

Although the cryptoasset industry is facing a strong headwind in the wake of the collapse of cryptocurrency exchange operator FTX Trading Ltd., Matsumoto expressed confidence that the business foundation of Coincheck, which handles bitcoin and other cryptoassets, is solid.

Taking advantage of the expected momentum from the listing, Coincheck "will launch new operations globally," such as services related to the metaverse virtual space and nonfungible tokens, he said.

The value of bitcoin has plunged this year after surging on the back of a glut of money reflecting monetary easing measures taken worldwide amid the novel coronavirus pandemic. Bitcoin lost further ground after the FTX's bankruptcy filing in November.

As a problem unique to cryptocurrencies, Matsumoto noted a lack of "a central banking body that provides liquidity in emergencies and a management mechanism for assets" in the industry.

[Copyright The Jiji Press, Ltd.]

Jiji Press