Monex Group to Acquire Majority Stake in Canada's Digital Asset Manager 3iQ

Monex Group, Inc. (Monex Group), a Japanese online trading services provider, announced its plan to acquire the majority stake of 3iQ Digital Holdings, Inc. (3iQ), a leading digital asset investment fund manager based in Ontario, Canada.

Yuko Seimei, CEO of Monex Group, commented: "Our long term strategy is to strengthen our asset management business, and 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."

The deal comes after 3iQ launched the industry's first comprehensive suite of crypto hedge fund managed accounts through the 3iQ Managed Account Platform (QMAP).

Frederick T. Pye, Chairman and CEO of 3iQ, stated: "We're absolutely thrilled about this incredible opportunity to join forces with Monex Group. This partnership is not just about growth; it's a thrilling leap towards realizing our dream. We've always been passionate about bringing regulated, innovative digital asset products to investors worldwide, and now, with Monex Group, we can turbocharge this mission.

"We're eagerly looking forward to being a part of the Monex family, especially collaborating with Coincheck – Japan's crypto exchange powerhouse with a staggering 1.8 million customer accounts. Imagine the synergy. With 3iQ's expertise in crafting exceptional crypto-asset products, we're poised to bolster Coincheck's offerings, especially for institutional investors. This is beyond a win-win – it's a joyous, groundbreaking collaboration that promises to reshape our industry."

Fazzaco previously witnessed growth in Monex Group for its Q1 FY2023/24​, with operating income of JPY 2.89 million, reflecting a 19% increase compared to the previous quarter.