Broker Monex plans to buy out FTX Japan cryptocurrency exchange

The Japanese brokerage company Monex Group has announced its intention to become a leading player in the local digital asset market and strengthen its position before the crypto industry overcomes the crisis and enters a growth phase.

According to Monex CEO Oki Matsumoto, the online broker plans to acquire Japanese exchange FTX Japan, a subsidiary of the collapsed crypto empire FTX Group.

Matsumoto noted that Japan's cryptocurrency market has maintained its potential in part because companies continue to buy digital assets as investments, as well as use non-fungible tokens for marketing purposes.

“We are interested in acquiring FTX Japan and it will be very good if the number of cryptocurrency exchanges competing with us decreases,” Oki Matsumoto explained.

FTX Japan Subdivision Auctioned as Part of Parent Company Bankruptcy Process According to Judicial Decision. Potential interest in the acquisition of the Japanese stock exchange was expressed by 41 companies, 25 of which entered into confidential agreements with the liquidation commission.