Monex Group Issues Statement on Reports of Possible Coincheck Acquisition

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Reports from Nikkei Asian Review and a number of other media outlets on Tuesday suggested that the Monex Group was considering a purchase of the beleaguered Coincheck digital exchange. Monex has since released a statement that acknowledges its interest in acquiring Coincheck but denies that any purchase decision has been made.

Media reports had claimed that the Tokyo-based online broker was offering as much as several billion yen in an effort to obtain a majority stake in the exchange, and planned to remake the company using its own hand-picked management team. Nikkei had suggested that the company might be prepared to announce such a deal “as early as this week.”

Coincheck made news earlier this year when it announced that roughly $530 million worth of NEM cryptocurrency had disappeared from the exchange. That led to an investigation by Japanese authorities, and a Financial Services Agency directive to implement new investor protections and AML procedures. Since the hack, Coincheck has reportedly been trying to obtain outside support for its operations.

In its own statement on the matter, Monex Group noted that the news reports were not based on any announcement from the company. Monex did, however, confirm that there have been internal discussions about a Coincheck acquisition:

“It is true that we have been considering the acquisition of the cryptocurrency firm mentioned in the report today but have not made any decision yet. Moving forward, should there be facts determined by Monex Group, Inc. that need to be disclosed, we will do so in a timely and appropriate manner.”

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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