Bitcoin To Be Awarded To Shareholders Of Japanese Coincheck

Bitcoin To Be Awarded To Shareholders Of Japanese Coincheck

The Japanese-based crypto platform, Coincheck has just announced this week that it will award bitcoin to its shareholders in what seems to be a new shake-up.

The statement was posted yesterday which said that the online broker Monex Group stated it would give 500 yen in Bitcoin to anyone who owns more than 100 shares and already has a Coincheck account.

This move looks to complement a prior incentive scheme under which shareholders received so-called Monex Points - a redeemable bonus system.

The statement explains: 

“The Company has hitherto offered Monex Points as a shareholder benefit to those shareholders who hold the Company’s shares under custody in brokerage accounts of Monex, Inc., the company’s subsidiary.

Responding to increasing aspiration for building assets in cryptocurrencies, the Company has decided to grant 500-yen equivalent cryptocurrency BTC to those shareholders who hold Coincheck accounts, which are operated by the company’s subsidiary Coincheck, Inc.”

This is the latest move in the renewal of the Coincheck platform under Monex’s auspices.

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As reported by Bitcoinst:

“The company purchased the exchange in March 2018 for a nominal $33 million. This was several months after a giant hack saw malicious actors make off with cryptocurrency worth more than half a billion dollars.”

This event has been the catalyst for a reshuffle of the Japanese domestic exchange space. In fact, regulators have started to take a big interest in making sure that new actors had efficient security measures in place.

After meeting with officials, the Morgan Creek Digital co-founder Anthony Pompliano said:

“Japan’s Financial Services Agency is a big proponent of Bitcoin and Lightning Network …the first country that embraces Bitcoin will have a significant advantage.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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