The electronic trading company Monex Group, Inc. (TYO:8698) based in Tokyo will acquire a majority stake in 3iQ Digital Holdings, Inc., a leading crypto asset manager in Canada.
3iQ, which is licensed in Ontario, Canada, recently introduced a ground-breaking development – the industry’s first comprehensive line of crypto hedge fund managed accounts through the innovative 3iQ Managed Account Platform (QMAP).
3iQ plans to offer unmatched outsourced asset management services, staying ahead of the curve and meeting the evolving needs of its clients.
“Our long-term strategy is to strengthen our asset management business and by welcoming 3iQ into our group, we aim to achieve high growth by meeting the crypto asset management needs of institutional investors and crypto asset exchanges around the world, which are expected to grow in the future,” said Yuko Seimei, CEO of Monex Group.
“We are absolutely thrilled for this incredible opportunity to join forces with the Monex Group,” said Frederick T. Pye, President and CEO of 3iQ, “This partnership is not just about growth. it is an exciting leap towards the realization of our dream. We have always been passionate about offering regulated, innovative digital asset products to investors around the world and now, with Monex Group, we can execute this supercharged mission. We look forward to becoming a part of the Monex family, especially partnering with Coincheck – Japan’s powerhouse cryptocurrency exchange with a staggering 1.8 million customer accounts. Imagine the synergy. With 3iQ’s expertise in creating great crypto products, we are ready to enhance Coincheck’s offerings, especially for institutional investors. This is more than a win-win – it’s a joyful, innovative partnership that promises to reshape our industry!”
For Monex Group, TD Cowen acted as financial advisor and Osler, Hoskin & Harcourt LLP acted as legal advisor. For sellers, Cinaport Capital Inc. acted as financial advisor and Wildeboer Dellelce LLP acted as legal advisor.