Monex Group to Acquire 3iQ, Boosting Crypto Business
The Japanese brokerage and financial services firm, Monex Group, has announced a significant move in the cryptocurrency sector. It plans to acquire a majority stake in 3iQ Digital Holdings, a Canadian digital asset investment fund manager. This acquisition is priced at $39.8 million, marking a pivotal moment for Monex Group in its journey to expand its crypto business.
Pioneering Achievements by 3iQ
3iQ is renowned for its innovative strides in the crypto space, particularly in North America. It has the distinction of launching the first regulated exchange-listed funds for Bitcoin and Ethereum in the region. Additionally, 3iQ was the first to introduce Bitcoin and Ethereum ETFs on the Toronto Stock Exchange, and notably, it added Staking capabilities to an Ethereum ETF. Besides these public offerings, 3iQ manages private investment funds, initially available only to accredited and institutional investors in Canada. These funds provide direct exposure to bitcoin value and aim for capital appreciation through a long-term holding strategy.
Synergistic Benefits and Future Prospects
Yuko Seimei, the CEO of Monex Group, emphasized that this acquisition aligns with the company's long-term strategy to bolster its asset management segment. It aims to tap into the growing demand for crypto asset management among institutional investors and global exchanges. Frederick T. Pye, Chairman and CEO of 3iQ, echoed this sentiment, highlighting the potential synergies, especially in collaboration with Coincheck, a leading Japanese crypto exchange owned by Monex. Pye sees this partnership as a groundbreaking opportunity to reshape the industry, benefiting institutional investors with enhanced crypto-asset products.
3iQ has
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