Coincheck Losses 66% in Q3 2018

Coincheck Losses 66% in Q3 2018

Monex Group Inc., who owns Coincheck, published their financial results for the period of 2nd quarter 2018 (Japan term; Q3 in US term) until 31 March 2019

The Japan-based cryptocurrency exchange platform reports a loss of 588 million yen ($5.3 million) pre-tax for the third quarter of the fiscal year. Their revenue for July until September plummeted 66%, from last year’s 942 million yen ($8.3 million) to 315 million yen ($2.8 million).

In April, Monex Group bought Coincheck for $40 million.

Coincheck Hack and Re-establishing Services

The exchange was hacked back in 26 January 2018, where XEM valued at $532 million was embezzled. Coincheck halted some of its services after the hack and re-paid affected users a total of $420 million.

Throughout the year, since the hack, the exchange is slowly reviving its services. Japan-based users can now open accounts, deposit, and withdraw BTC, ETC, LTC, and BCH.

Other services will be opened once it is deemed secure by outside technical experts.

NEM

XEM
Price
0.08997 USD -5.55%
0.00001029 BTC 0.59%
Volume, 24h
26,354,178 USD
0.00%
Marketcap
800,146,944 USD
0.29%
Emission

Related news

Tokai Tokyo Financial Holdings to Bring Digital Securities to Japan

Japanese Expansion After spending months developing within the confines of the MAS FinTech Sandbox, digital exchange, ‘iSTOX’, looks to take its first large step forward – towards Japan. It was recently announced that Japan based, Tokai Tokyo Financial Holdings, has acquired a minority share of ICHX Tech (iSTOX ‘mother-company’). This move represents a first for iSTOX, as the company looks to eventually offer their services to investors worldwide. Investment Details iSTOX has had a successful year, as they have been on the receiving end of various investments over this time. The first major example would be the globally renowned, Singapore Exchange (SGX), followed by a series of companies in the following months. SGX Invests in iSTOX to Develop Security Token Platform iSTOX Exchange Completes Series A Funding This latest investment, which totals $4.58M, equates to a 4.58% share in ICHX Tech. By acquiring the position, it is expected that digital securities, hosted on the iSTOX platform, will now be available to Japanese investors; this being possible through the brokerage capabilities of Tokai Tokyo Financial Holdings. MAS FinTech SandBox One of the reasons behind the success experienced thus far by iSTOX, can be owed to the fact that they are one of a very select group to be admitted into the Monetary Authority of Singapore (MAS) FinTech Sandbox. This program allows for companies to trial new technologies and products, within a structured environment, allowing for continued public/client protective measures. MAS FinTech Sandbox Welcomes Capital Markets Platform ‘iSTOX’ iSTOX iSTOX is a subsidiary of Singapore based, ICHX Tech, which was founded in 2017. The company is fervently working to develop, and attain, adoption for their digital securities exchange. This platform, which is currently operative and accessible by accredited investors, is expected to make a full launch in Q4 of 2019. CEO, Danny Toe, currently oversees company operations. The team at iSTOX recently announced new growth, as they welcomed a new CCO – Oi Yee Choo. The following article takes a closer look Oi Yee Choo and what she brings to the table. UBS Managing Director Oi Yee Choo Becomes iSTOX CCO Tokai Tokyo Operating out of Tokyo, Japan, Tokai Tokyo Financial Holdings is an investment firm, which was founded in 1929. The company is able to offer its clientele a variety of services, pertinent to securities, such as brokerage, distribution, and more. Company operations are currently overseen by CEO, Tateaki Ishida. In Other News Singapore has rapidly established themselves as a leader within digital securities. With clear regulation, and forward thinking, companies have been able to effectively establish themselves within the Asian nation. The following articles are a few examples, highlighting industry moves which involve Singapore. 1X Launches as First Licenced Private Securities Exchange in Singapore Propine Accepted into MAS FinTech Sandbox Singapore Halts STO for Regulatory Breach The post Tokai Tokyo Financial Holdings to Bring Digital Securities to Japan appeared first on Securities.io.
Securities.io

Crypto News From Japan: Nov. 11–17 in Review

Crypto News From Japan: Nov. 11–17 in Review In this week’s selected cryptocurrency and blockchain-related news from Japan, a new association promoting crypto assets in antiquing was born, a well-known cryptocurrency trader was arrested and the Kyoto University started participating in the XRP ledger. Here is the past week of cryptocurrency and blockchain news in […] Cet article Crypto News From Japan: Nov. 11–17 in Review est apparu en premier sur Bitcoin Central.
Bitcoin Central

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.