Monex Nets $100M First-Quarter Profit Driven by Crypto Trading
Coincheck, one of Japan's largest crypto exchanges, banked its parent 9 billion yen (US$82 million).
Jul 28, 2021 at 9:25 a.m. UTCUpdated Aug 19, 2021 at 11:03 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/QEZOPMXLGBABTATII6IUJR23TY.png)
Monex Group, a Japanese online securities company, reported fiscal first-quarter pretax profit of 11 billion yen ($100 million) driven largely by its crypto division.
- Coincheck, one of Japan's largest crypto exchanges, banked its parent company 9 billion yen (US$82 million) in pretax profit in the three months ended June 30, according to results published Wednesday.
- That's up from the unit's 6.6 billion yen ($60 million) reported by Monex for the previous quarter.
- Monex attributes this performance to increased trading volume resulting from higher volatility in the crypto market.
- The securities company acquired Coincheck in April 2018 for $33.5 million.
STORY CONTINUES BELOW
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)