Monex Inc., the new owner of the cryptocurrency exchange Coincheck, has announced that Coincheck will expand into the US.
Monex acquired Coincheck back in April, not long after Coincheck experienced one of the largest crypto hacks of all time. Coincheck has been working to recover ever since but hasn’t fully succeeded yet. Now, in the hopes of helping the exchange to recover further, Monex plans to expand Coincheck into the US, reports Bloomberg.
Getting over the crypto hack isn’t the only reason Coincheck is expanding into the US, though. The CEO of Monex, Oki Matsumoto, also believes that the move will help Coincheck to recover because the US is actually further along in the crypto space than Japan.
“Japan may seem like it’s one step ahead in crypto, but in terms of deciding what’s a security or a token and attracting institutional investors, the U.S. and Europe are moving ahead,” Matsumoto told Bloomberg.
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Coincheck Will Expand Into The US
Matsumoto believes that American regulations on crypto will have the biggest influence on what effect cryptocurrencies have on the economy and on society and that whatever the US decides will, ultimately, have “a huge impact on Japan.”
Based on these beliefs, Coincheck expanding into the US seems like a good idea.
Matsumoto didn’t provide a timeline of when the US expansion might occur, but it seems “the sooner the better” is the mentality around these things.
Matsumoto is completely confident they will be successful in bringing Coincheck back into the limelight with investors. “We can broaden our customer base at Coincheck,” he assured. “In the end, we should and we can replicate the profitability they achieved before.”
Do you think the US is the answer?
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