3iQ leader says joining Monex Group is a 'thrilling leap towards realizing our dream'
A Canadian crypto asset management pioneer is joining a Japanese financial group to accelerate growth and move closer to achieving its dream.
3iQ Digital Holdings, Inc., and its subsidiaries – the firm that launched the first Bitcoin fund on the TSX in 2020, is being acquired by the Monex Group, Inc., which runs online brokerage, crypto exchange, and asset management business in Japan and globally.
3iQ chairman and CEO Frederick T. Pye says the deal is not just about achieving 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,” he said.
Growth is highly likely though, as the acquisition will enable 3iQ to collaborate with Monex Group’s Coincheck, a Japanese 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!,” enthused Pye.
Growing through innovation
The expertise that the Ontario licensed team will add to Monex is clear, having been North America's first to launch regulated exchange-listed funds for Bitcoin and Ethereum, and one of the first to launch crypto ETFs on the Toronto Stock Exchange.
More recently, 3iQ has become the first firm globally to integrate Staking capabilities within an Ethereum ETF – a game-changing move for digital asset management, and its development of the industry's first-ever comprehensive suite of crypto hedge fund managed accounts with its 3iQ Managed Account Platform (QMAP).
And the firm’s plan to offer outsourced asset management services is another important element that has attracted Monex Group’s CEO Yuko Seimei.
"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, " she said.
