- Japan's Monex Group has recently revealed that it will go through with last year's plan to grant a part of shareholder benefits in Bitcoin.
- This will only include shareholders who own a crypto account at Coincheck, and they will receive 500 JPY worth in BTC.
- The amount is rather small, but it is meant to be taken as a symbol of the company's support of the crypto industry.
A recent announcement by the Tokyo-headquartered Monex Group reveals that the company plans to grant a small amount of BTC coins to its shareholders who own crypto accounts at Coincheck. The move comes as the fiscal year of 2019 comes to a close, and the company wishes to grant shareholder benefits in a somewhat different way.
As mentioned, only those who own accounts at the crypto exchange, Coincheck, can receive the coins. Coincheck itself was chosen because it is operated by one of Monex’s own subsidiaries.
Any shareholder with the account at Coincheck will receive around 500 JPY in BTC, which translates to 0.00077 BTC according to current prices. In USD, this amounts to roughly $4.53. The amount is certainly small, but the move comes as a symbolic gesture that is to show that Monex still supports the crypto industry and that it still has a significant interest in it.
Monex continues to support the crypto industry
Of course, the crypto will be gifted in addition to regular Monex points, which were previously distributed as a standard shareholder benefit. Interestingly enough, Monex made a move to approach cryptocurrencies in the past as well, when it announced that shareholders can exchange their Monex Points for cryptos in April 2019. Now, the company is granting the two side-by-side, albeit only in small amounts when it comes to cryptocurrency.
The decision to grant 500 JPY worth of Bitcoin is not new either, and Monex made this decision as far back as in September 2019. Back then, it claimed that the decision was brought due to the increased interest in cryptos.
Also, in February 2020, Monex became a participant in a $16.7 million funding round, held by CoolBitX, once again confirming its support and interest in the industry. Another example is the company’s subsidiary Trade Station, based in the US. In November 2019, Trade Station revealed plans to launch a crypto brokerage platform.
Besides, Japan itself has always been one of the crypto friendliest countries in the world. Only a week ago, a number of the country’s financial institutions revealed plans to join forces with a blockchain startup known as LayerX. The goal of the move is to create a new asset management firm for blockchain-based assets.