Monex to launch U.S. crypto exchange in July despite weak track record in the space
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.
Japanese online brokerage Monex Group is set to launch a U.S. cryptocurrency exchange in July, Cointelegraph writes. Earlier this month, the company announced it had been planning to add cryptocurrencies to its list of products to attract more clients.
The company has previously seen losses on its cryptocurrency operations. Coincheck, the crypto exchange Monex acquired last year, lost more than $15 million over the last 12 months. While Coincheck underwent restructuring and obtained an exchange license from the Japanese Financial Services Agency, it did not note gains. Monex annual revenue from 2018 shows a small fall when compared to the previous year's report, from $440 million to $420 million.
