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Monex Group ( (JP:8698) ) just unveiled an announcement.
Monex Group has transferred its Canadian crypto asset management subsidiary 3iQ Digital Holdings, via intermediate holding company 1000745629 Ontario Inc., from the Asset & Wealth Management Business Segment to the Crypto Asset Business Segment under Coincheck Group N.V. The move is designed to concentrate crypto expertise within Coincheck Group, deepen collaboration across the group, and accelerate expansion from a primarily retail-focused crypto business into institutional and corporate markets by leveraging 3iQ’s strong track record in Bitcoin, Ethereum, Solana, and Ripple ETFs and its growing global institutional client base. As consideration, Coincheck Group will issue 27,149,684 new shares to Monex, increasing Monex’s ownership in Coincheck Group from 80.3% to 83.1%, with no change to the overall scope of consolidation, and management expects the reorganization to enhance long-term group value through stronger synergies between crypto asset management and traditional asset management operations.
The most recent analyst rating on (JP:8698) stock is a Hold with a Yen732.00 price target. To see the full list of analyst forecasts on Monex Group stock, see the JP:8698 Stock Forecast page.
More about Monex Group
Monex Group is a Japanese financial services conglomerate operating online brokerage, crypto asset exchange, and asset and wealth management businesses in Japan and overseas. The group has positioned crypto assets as a core growth pillar alongside online brokerage and asset management, notably through its subsidiary Coincheck and Nasdaq-listed Coincheck Group N.V., and has been expanding its global footprint via acquisitions in blockchain infrastructure, staking services, and crypto prime brokerage.
Average Trading Volume: 2,039,664
Technical Sentiment Signal: Strong Buy
Current Market Cap: Yen194.7B
Learn more about 8698 stock on TipRanks’ Stock Analysis page.