Monex Group Makes Executive Changes In CoinCheck and Monex Inc

Tokyo-based financial services firm Monex Group has announced some changes in the management team for both CoinCheck and Monex Inc.

The company operates Boom Hong Kong, Boom, Monex, and Trade Station retail brokerages. It also acquired and assumed control of the CoinCheck cryptocurrency exchange. The recent announcement revealed that the Tokyo-based company is planning to change up the management of both Monex and CoinCheck.

Monex Group plans to change up its auditing team such as replacing its current auditor Kiyoshi Tamura and appointing Kazunaga Nakajima to take up the position. Tamura has been part of Monex Group for years and even became a Managing Director as well as a General Manager and Senior Executive Director of Credit Department at its subsidiary. The changes happened when Monex was carrying out a major overhaul of its development business.

Despite being removed from his position as the company’s auditor, Tamura will still be part of the company where he will become part of the management team at CoinCheck. He and others in the management team have a heavy task of helping the cryptocurrency exchange to get back on its feet following the crypto hack that took place earlier this year.

“We believe we can create a new type of global cyberspace-comprehensive financial service company for global retail customers,” stated Matsumoto in an interview held last month.

Monex’s acquisition of CoinCheck targets growth in the future

Monex Group is now the third largest online brokerage firm in Japan based on the number of accounts courtesy of its acquisition of CoinCheck. Meanwhile, Matsumoto is convinced that blockchain companies that have superior financial technologies are necessary especially towards the provision of secure payment and banking services in the future. He pointed out that blockchain firms will develop financial products that can help create more retail investment options

Monex has had to invest a lot of money to boost its internal controls and cybersecurity especially considering that it has hackers have become one of the biggest threats to the digital currency community. The move will allow the company to strengthen its trading platform and allow them to lower the risks associated with cybersecurity.