Broker Monex plans to buy out FTX Japan cryptocurrency exchange

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The Japanese brokerage company Monex Group saidabout the intention to become a leading player in the local digital asset market and strengthen its position before the crypto industry overcomes the crisis and enters a growth phase.

According to Monex CEO Oki Matsumoto, the online broker plans to acquire Japanese exchange FTX Japan, a subsidiary of the collapsed crypto empire FTX Group.

Matsumoto noted that the Japanese cryptocurrency markethas retained its potential in part because companies continue to buy digital assets as investments, as well as use non-fungible tokens for marketing purposes.

“We are interested in acquiring FTX Japan and it will be very good if the number of cryptocurrency exchanges competing with us decreases,” Oki Matsumoto explained.

According to the decision of the judiciary, the Japanese division of FTX exhibited
up for auction as part of the bankruptcy proceedingscompanies. Potential interest in acquiring the Japanese stock exchange was expressed by 41 companies, 25 of which entered into confidential agreements with the liquidation commission.