Major Japanese Finance Firm Monex Group to Expand Business in the U.S. in 2019


TradeStation Group, Inc., a subsidiary of the major Japanese internet securities firm Monex Group, Inc., will enter the cryptocurrency market in the United States in 2019 through TradeStation Crypto, Inc., its own subsidiary.

TradeStation Crypto announced that it plans to provide an online intermediary service for cryptocurrency traders and investors; the company expressed enthusiasm in contributing to strengthening the ecosystem for the cryptocurrency market, using TradeStation’s specialized knowledge in securities and futures intermediation.

TradeStation Crypto began offering real-time market data from the online securities firm TradeStation Securities, Inc. in indices for Bitcoin sourced by Cboe Global Markets, Inc. and CME Group Inc. in 2017. The company has been providing support for market data and order execution after CME and Cboe brought Bitcoin futures to market.

The Monex Group also turned Coincheck, one of Japan’s major cryptocurrency exchanges, into a full subsidiary last year. Japan’s Financial Services Agency implemented revisions to the Payments Services Act in April 2017, introducing a registration system for unregulated cryptocurrency exchange providers. Coincheck was in the registration process for a while, operating as a “quasi-operator” before it became subject to a hacking incident last year, in which enormous amounts of cryptocurrency were stolen from the exchange. Coincheck was then transformed into the Monex Group’s subsidiary and received improvements to its internal control system, completing the process to become a registered cryptocurrency exchange operator last week. The Coincheck exchange is expected to fully reopen in 2019.

*This article was written by Fisco