Monex Plans To Buy Bankrupt FTX Japan
Monex Group, a Tokyo-based online brokerage firm, was drawn to FTX Japan, one of four FTX assets put up for sale.
Monex CEO Oki Matsumoto stated in an interview that they are interested and that it will be a “very good thing” for them if there is less competition in the local market.
Matsumoto also stated that the Japanese crypto market has a lot of potential because companies may be interested in investing in digital assets or using nonfungible tokens for marketing campaigns.
When the time comes, Monex wants to be one of the few options for local players, according to the CEO.
FTX Japan is one of four FTX assets that have been approved for sale as part of the bankruptcy proceedings. Other assets include the stock-clearing platform Embed, the derivatives platform LedgerX, and the exchange’s European subsidiary, FTX Europe. Those interested in purchasing are permitted by the court to conduct due diligence and investigate the assets for sale.
Monex isn’t the only company interested in the FTX asset. A court filing on Jan. 10 confirmed that approximately 117 entities have expressed interest in purchasing the embattled exchange’s assets for sale. 41 buyers are looking into FTX Japan, according to the data.
(With inputs from Shikha Singh)
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