Coincheck Owner Monex to Pay Out Dividends in Bitcoin to Shareholders

Japan’s financial giant Monex Group, owner of cryptocurrency exchange Coincheck, will be granting Bitcoin (BTC) as a mid-term shareholder benefit in 2019.

In addition to the existing shareholder benefits, the new dividends will be paid out to those who hold the company’s shares as of Sept. 30, 2019, as a mid-term shareholder benefit for the 2019 fiscal year, Monex Group announced in a press release on Sept. 24.

Coincheck account holders

For shareholders who hold Coincheck accounts, Monex Group will give the equivalent of 500 Japanese yen ($4.65) in Bitcoin, worth about 0.00055 BTC at press time. 

According to the statement, the company has not determined whether it will continue paying out cryptocurrency as part of shareholder benefits after March 31, 2020.

The new program will pay out crypto dividends to all Monex shareholders, regardless of how many shares they hold, but only to customers who have an account at Coincheck. The firm wrote in the announcement:

“Shareholders are required to open accounts in Coincheck and complete the application in the ‘Shareholder Benefit Application Site’ by 11:59 p.m. on March 31, 2020 in order to receive 500-yen equivalent cryptocurrency BTC in early April 2020.”

“Monex Points” for shares on Monex brokerage

Additionally, the company introduced its “Monex Points” as part of its shareholder benefit program to grant those shareholders who hold the company’s shares under custody in brokerage accounts of Monex Group’s subsidiary Monex, Inc.

One Monex point, equivalent to one yen, will be provided to eligible shareholders in accordance with the number of shares held at the reference date, the firm explained.

Staff changes

Also today, Monex Group announced changes in its management, personal and organization, appointing its current general manager of strategic planning, Yuya Asamura, as the new executive director starting Oct.1. 

Additionally, the firm appointed Naoyuki Kainuma as the new executive director and general manager of the CEO office at Monex Group.

After the $534 million hack of Coincheck in January 2018, Monex Group acquired the exchange for $33.5 million in April 2018. In July 2019, the company expressed its intention to join Facebook’s cryptocurrency project Libra.