{"id":70086,"date":"2023-10-08T01:16:09","date_gmt":"2023-10-08T05:16:09","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/japans-largest-crypto-exchange-operator-monex-seals-deal-with-telecoms-giant-ntt-docomo\/"},"modified":"2023-10-08T01:16:12","modified_gmt":"2023-10-08T05:16:12","slug":"japans-largest-crypto-exchange-operator-monex-seals-deal-with-telecoms-giant-ntt-docomo","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=70086","title":{"rendered":"Japan&#8217;s Largest Crypto Exchange Operator Monex Seals Deal with Telecoms Giant NTT Docomo"},"content":{"rendered":"<div>\n<p style=\"text-align:justify;\">Japanese mobile operator NTT Docomo said Wednesday that it formed a capital partnership with crypto exchange Monex to build new asset formation services for customers.<\/p>\n<p style=\"text-align:justify;\">The capital and business alliance agreement would let both parties establish an intermediate holding company on January 4, 2024.<\/p>\n<p style=\"text-align:justify;\">\u201cIt&#8217;s really exciting to join hands with NTT Docomo, a \u2018giant\u2019,\u201d says Oki Matsumoto, Monex Group chairman during a press conference in Japan on October 4.<\/p>\n<p style=\"text-align:justify;\">Per the Japan Times report, NTT Docomo will hold 49% share of the holding company for \u00a548.5 billion ($326 million), in which Monex will become a consolidated subsidiary.<\/p>\n<p style=\"text-align:justify;\">The mobile giant will have the right to nominate a majority of board members for the new intermediate holding company, the report added.<\/p>\n<p style=\"text-align:justify;\">\u201cCustomers will be able to use the same services as before, but through this capital and business alliance, we will provide an even more advanced and wonderful experience,\u201d the official release noted.<\/p>\n<p style=\"text-align:justify;\">With the new capital business alliance, Monex is seeking to create next-generation asset building services and push to generate a social impact that will advance individuals\u2019 asset building through investments in Japan.<\/p>\n<p style=\"text-align:justify;\">Apart from the crypto asset business, Monex Group has an online securities business in Japan and the US as its core business and recently has expanded to include asset management and education business.<\/p>\n<p style=\"text-align:justify;\">Yuko Seimei, Monex\u2019s current president will continue to serve Monex after Jan. 4, the report added.<\/p>\n<h2 style=\"text-align:justify;\">Monex\u2019s Interest in FTX Japan<\/h2>\n<p style=\"text-align:justify;\">Months after FTX\u2019s debacle in November 2022, Monex expressed interest in buying the FTX\u2019s Japan arm, due to Japan\u2019s liberal regulations.<\/p>\n<p style=\"text-align:justify;\">Oki Matsumoto, CEO of Monex told Bloomberg early this year that less competition within the local market would invest a \u201cvery good thing\u201d for Monex. \u201cGenerally speaking, we naturally are interested.\u201d<\/p>\n<p style=\"text-align:justify;\">Matsumoto also said that the crypto landscape in Japan has a lot of potential due to the nation\u2019s liberal regulations. Monex also acquired Coincheck Inc, the exchange that hackers attacked in 2018.<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/japans-largest-crypto-exchange-operator-monex-seals-deal-with-telecoms-giant-ntt-docomo.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Japanese mobile operator NTT Docomo said Wednesday that it formed a capital partnership with crypto exchange Monex to build new asset formation services for customers. The capital and business alliance agreement would let both parties establish an intermediate holding company on January 4, 2024. \u201cIt&#8217;s really exciting to join hands with NTT Docomo, a \u2018giant\u2019,\u201d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":70087,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-70086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Japan&#039;s Largest Crypto Exchange Operator Monex Seals Deal with Telecoms Giant NTT Docomo | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Japanese mobile operator NTT Docomo said Wednesday that it formed a capital partnership with crypto exchange Monex to 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