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The online broker Monex Group, known for buying Coincheck in Japan, has announced that it will start cryptocurrency trading in the United States, according to Cointelegraph Japan on Wednesday 12 December.
Monex held a conference in Tokyo, where John Bartleman, president of the American subsidiary Monex, TradeStation Group, Inc. took part. He announced that crypto trading will be available to US customers starting in the first quarter of 2019.
In addition, Bartleman revealed that TradeStation is interested in encrypting investments in general. The company has already joined the B series round of the new US encryption ErisX, whose cryptographic services will soon be open pending the approval of the country's financial regulators.
Speaking exclusively with Cointelegraph Japan, Bartleman said the platform will go live with the top five cryptocurrencies traded in the US, which are Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH) and "maybe "Ripple (XRP).
The TradeStation manager also noted that the company is about to receive a cash transmitter license for every state in the United States, which would take nine to twelve months.
According to Bartleman, TradeStation will focus on institutional investors over other cryptographic exchanges in the United States, such as Coinbase or RobinHood, aimed at small investors.
The platform will interact with traditional brokers and markets, linking multiple liquidity providers to reach sufficient volumes for core customers. "The mood has changed from this hysteria to all kinds of startups around the world," he explained, stating that solid cryptography companies are becoming "mature" between the market crash at the end of 2018.
Also the president of Coincheck, Toshihiko Katsuya, took part in the conference. As quoted by Cointelegraph Japan, it revealed that the company is steadily restarting its business after breaking the industry record when $ 5 billion of NEMs have been stolen from its portfolios.
However, the English-language review Asia Nikkei Review points out that the recent market slippage prevents the full recovery of the compromised cryptographic exchange. The news also noted that Coincheck is still awaiting approval from the Financial Services Agency (FSA), and the process takes longer than expected from the exchange.
Monex Group initially mentioned its plans to launch a US-based trading platform in late July. As reported by Cointelegraph, citing the company, TradeStation Crypto Inc. could be a subsidiary focused on the cryptocurrency of the brokerage company TradeStation, acquired by Monex in 2011.
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