Monex Group, a Tokyo-based online brokerage firm, is considering bidding for the Japan subsidiary of the failed FTX cryptocurrency exchange, according to a report by Bloomberg.
The company’s CEO, Oki Matsumoto, stated that “Generally speaking, we naturally are interested.” He also mentioned that having less competition in the form of other crypto exchanges would be beneficial for Monex.
The U.S. Bankruptcy Court in Delaware has given FTX permission to sell assets to repay creditors, including FTX Japan Holdings.
Interested parties must submit a non-binding preliminary bid for FTX Japan by February 1st, with the final deadline for bidding on March 15th. Monex Group already owns a crypto exchange, Coincheck, which it acquired in 2018.