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TOKYO – Monex Group, the Japanese financial services giant, has made a significant move into the global cryptocurrency market by acquiring a majority stake in Canadian company 3iQ Digital Asset Management. The transaction, valued at $39.8 million, marks a strategic expansion to strengthen Monex’s presence in the digital asset management sector and demonstrates the growing institutional interest in cryptocurrencies.
The acquisition is expected to enable Monex to enhance its cryptocurrency asset management services globally. Monex will likely work closely with Coincheck, a cryptocurrency exchange it owns, to expand its institutional offering. This collaboration highlights a concerted effort to tap the growing market for digital asset management services among institutional investors.
3iQ stands out in the North American market as a pioneer in the regulated cryptocurrency funds space. It has the distinction of being the first to list regulated Bitcoin and Ethereum funds in the region. Additionally, 3iQ was instrumental in introducing Bitcoin and Ethereum exchange-traded funds (ETFs) to the Toronto Stock Exchange, providing investors with more mainstream ways to invest in digital assets.
In a move that further strengthens its innovative approach, 3iQ has incorporated staking capabilities into an Ethereum ETF. This feature allows investors to earn rewards through the staking process, which is a way to participate in the operation and security of a blockchain network. Additionally, 3iQ developed the QMAP, a strategy tool designed to guide institutional investors in developing cryptocurrency investment strategies, highlighting the firm’s commitment to meeting the sophisticated needs of professional participants in the walk.
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