Monex aims to reshape business via blockchain, reiterates Australian expansion plans

Maria Nikolova

The broker is considering developing its own unique Blockchain and conducting an ICO.

Online trading services provider Monex Group, Inc. (TYO:8698) has earlier today made a set of announcements concerning its performance for the quarter to September 30, 2017, but the report attracted investor attention with the promise of a new beginning made by Oki Matsumoto, Monex’s President & Chief Executive Officer. The company is aiming to reshape its business by using novel technologies like blockchain.

“Right now, just as we did when we were first established, MONEX will not just ride the wave of new technologies like blockchain. We will incorporate and utilize these new technologies to take a leading role in triggering an evolution of the world’s capital markets”, Mr Matsumoto said.

The aim of the company is to utilize Blockchain technology in a way that would enable safe, low-cost transactions of a diverse range of financial products and money.

“We will consider developing our own unique Blockchain and conducting an ICO”, Mr Matsumoto said.

The report sheds light on other plans by Monex concerning virtual currencies, including the launch of a virtual currency exchange business by Monex, Inc. and operating a virtual currency exchange via start-up investment. The company will also provide a virtual currency as a new trading item.

Regarding APAC expansion, Monex confirmed its plans to launch a new online brokerage firm in Australia, with the start scheduled for the third quarter of the year to March 31, 2018. This is set to be an online securities business operation. Monex Securities Australia Pty Ltd is set to start online securities business in the third quarter, enabling an access to 12 countries and regions including Shanghai A shares and Shenzhen A share through the Hong Kong stock connect.

The company makes use of the system of the HK-based brokerage subsidiary in order to lighten the infrastructure and offer cost-competitive services.

Monex highlighted its push into technologies by noting the recent launch its robo-adviser service where a customer can determine one’s own investment policy and easily manage his/her assets with a support of professional advice. Unlike discretionary investment, customers can make investment decisions on their own with analyzing the market and the global economy. More than 1,000 patterns of portfolio combinations are available to help customers manage their assets on their own policy.

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