Monex Group, which sold a controlling stake in its Japanese online brokerage business Monex to NTT Docomo in October, will acquire the majority stake of 3iQ Digital Holdings, a pioneer in crypto asset management in Canada.
The acquisition carries the trend of significant cryptocurrency exchanges entering the asset management space. The financial terms of the Coincheck acquisition 2018 were not made public by Monex, which also controls TradeStation in the United States.
3iQ became well-known for being one of the first companies to launch a Bitcoin ETF in 2020 and having it listed in Canada. Soon after opening, assets increased to $755 million but stabilized at roughly $100 million.
By incorporating staking features into an Ethereum ETF, 3iQ set a new standard for innovation in digital asset management. In 2022, in line with the dynamic market trend, 3iQ showed its progressive nature by thinking about helping the U.S. detect Bitcoin ETF candidates.
The company’s reputation was further cemented when the Ontario Securities Commission approved Bitcoin ETFs, subject to daily liquidity workflow and robust custody services.
Frederick Pye, CEO of 3iQ, expressed confidence in leveraging 3iQ’s experience in creating outstanding crypto asset solutions to strengthen Coincheck’s offerings, especially for institutional investors.