Japan’s Monex Group has acquired Toronto-born 3iQ Digital Asset Management.
Monex, a Tokyo-based financial group that runs an online brokerage and crypto exchange, now owns a majority stake of 3iQ, a digital asset investment fund manager founded in 2012 which went on to become Canada’s first firm to launch Bitcoin and Ethereum ETFs on the Toronto Stock Exchange in 2020.
“By welcoming 3iQ to our group, we aim to achieve high growth by capturing the crypto asset management needs of institutional investors and crypto asset exchanges around the world, which are expected to grow in the future,” stated Yuko Seimei, who serves as chief executive officer of Monex Group.
Frederick Pye, chief of 3iQ, said that he was “absolutely thrilled” about the “incredible opportunity to join forces with Monex.”
“This partnership is not just about growth,” he stated. “It’s a thrilling leap towards realizing our dream.”
Pye went on to say that 3iQ has long been “passionate about bringing regulated, innovative digital asset products to investors worldwide.”
“Now, with Monex Group, we can turbocharge this mission,” he said.
Pye added that he is excited for 3iQ to collaborate with Coincheck, a crypto exchange powerhouse in Japan approaching two million active users.
“Imagine the synergy,” he gushed.”With 3iQ’s expertise in crafting exceptional crypto-asset products, we’re poised to bolster Coincheck’s offerings, especially for institutional investors.”
Last year, 3iQ struck a partnership with Calgary’s Tetra Trust and Coinbase, one of the largest crypto custodians in the U.S.
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