A summary of data from a financial briefing held Friday confirms plans to establish TradeStation Crypto Inc. as a cryptocurrency-focused subsidiary of securities brokerage firm TradeStation, which Monex acquired in 2011.
As Cointelegraph Japan reports, Monex CEO Oki Matsumoto also signalled Coincheck –– which Monex purchased in April for around $33 mln –– should begin functioning fully next month.
Matsumoto had originally forecast a June opening for Coincheck, but delays in securing a licence from Japan’s financial regulator the Financial Services Authority (FSA) resulted in this being pushed back, Cointelegraph Japan reports.
As Matsumoto stated at a press briefing, he is confident about getting a licence from the FSA, adding that Monex had already finished investing in cyber security and internal management.
Coincheck has continued to function since the Monex takeover, demonstrating stringent adherence to regulatory demands since the platform lost $534 mln in a hack in January –– the largest hack the industry has seen thus far.
“Japan may seem like it’s one step ahead in crypto, but in terms of deciding what’s a security or a token and attracting institutional investors, the U.S. and Europe are moving ahead,” Matsumoto told Bloomberg at the time.