Monex Gifts Bitcoin to Shareholders with Coincheck Crypto Accounts

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 Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

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.

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 Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term 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.