Japanese brokerage company Monex Group has shown interest in acquiring the local unit of the collapsed cryptocurrency exchange FTX, run by Sam Bankman-Fried. Bloomberg reports.<\/p>\n
\n\u201c[\u2026] we are naturally interested,\u201d said Monex CEO Oki Matsumoto.<\/p>\n<\/blockquote>\n
He did not specify whether the firm has taken steps to participate in the bidding, but noted it would be \\”very good\\” if the number of competing exchanges in the market decreased. Since 2018, Monex has held a controlling stake in Japan’s largest digital-asset trading platform Coincheck.<\/p>\n
FTX Japan is up for sale as part of the bankruptcy proceedings of parent FTX<\/a>, alongside LedgerX, Embed, FTX Europe and other subsidiaries. Earlier reports indicated that interest in them had already been shown by 117 organisations<\/a>.<\/p>\n
According to Matsumoto, he sees potential in Japan’s crypto market in expanding corporate investment in digital assets and using NFTs for marketing. Monex would like to become \\”one of the few\\” options for clients when that time comes, said the firm\u2019s head.<\/p>\n
In March 2022 Coincheck announced a Nasdaq listing in the second quarter<\/a> via a deal with a SPAC<\/span> worth $1.25 billion. Matsumoto confirmed that the plans remain, but did not provide new timing for the possible listing on the stock exchange.<\/p>\n
FTX entered the Japanese market in February 2022, having acquired the local Liquid platform and its subsidiaries<\/a>.<\/p>\n