Tokyo-based financial services company Monex Group has announced that it will grant a small amount of Bitcoin as a year-end shareholder benefit for the fiscal year 2019.
The BTC will only be gifted to shareholders who hold accounts at cryptocurrency exchange Coincheck, which is operated by a Monex subsidiary.
Eligible shareholders who hold the company’s shares as of March 31st will receive 500 JPY worth of Bitcoin, roughly 0.00077 BTC or roughly $4.53 at the time of writing–a small amount, to be sure, but the benefit seems to be a small symbol of Monex’s continued support for and interest in the cryptocurrency industry.
The BTC will be granted in addition to Monex points, which have traditionally been distributed as a shareholder benefit by the company. Coincidentally, however, the company announced in April of last year that it would allow Monex Points to be exchanged for cryptocurrencies.
Is Monex encouraging shareholders to hold and trade crypto?
Monex originally decided to grant Coincheck-account-holding shareholders with 500 JPY worth of BTC in September of last year, citing increased interest in cryptocurrency.
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Monex’s efforts to foster the cryptocurrency industry also made news in February, when the company was listed as a participant in a CoolBitX’s $16.7 million funding round.
Additionally, in November, a US-based Monex Group subsidiary known as Trade Station announced that it would be launching a cryptocurrency brokerage platform through a newly-formed crypto division, aptly named “Trade Station Crypto.”
Japan still leads the charge in the global crypto industry
Monex Group’s home country of Japan has long been slated as one of the most advanced nations in the world when it comes to the regulation and adoption of blockchain and cryptocurrency.
Just last week, several Japanese financial institutions–Brokerage SMBC Nikko Securities, Sumitomo Mitsui Trust Bank, and general trading company Mitsui & Co.–announced that they would be joining forces with blockchain startup LayerX to form an asset management company for blockchain-based assets, dubbed “Mitsui & Co. Digital Asset Management.”
Additionally, Toyota Financial Services, the financial offshoot of the well-known automotive manufacturer, announced the completion of a blockchain-based platform for vehicle and personal IDs. The project also involves the Toyota Blockchain Lab.