Monex Becomes First Japanese Securities Firm to List Cryptocurrency CFD

Published at: July 8, 2020

Monex Securities, a major Japanese online securities company, launched a cryptocurrency contract-for-difference service today. This marks the first time that a major online Japanese securities company has offered a crypto CFD. 

A CFD is a type of derivative in which the "buyer" of the contract pays the "seller" the difference between the current price of an asset and the price of that asset at a future date stipulated in the contract. 

According to a Monex announcement on July 8, the CFD is available for Bitcoin (BTC)/yen, Ether (ETH)/yen, XRP/yen,  and Bitcoin Cash (BCH)/yen trading pairs. The leverage rate limit is 2x. 

Speaking to Cointelegraph, Monex said they would consider adding new coins after considering “demand, liquidity risks, price fluctuations risk and crypto blockchain network risk." 

Monex Securities' parent company, Monex Group, also runs Coincheck, one of the biggest cryptocurrency exchanges in Japan. 

On May 1, the Japanese government enforced the revised Financial Instruments and Exchange Law (FIEL). According to this new law, every business involved in offering crypto derivatives trading is required to be registered as a Financial Instrument Business.

Monex Securities will offer the new crypto derivative service as a financial instrument regulated by the FIEL.

Tags
Xrp
Related Posts
BitFlyer Partners With Brave to Develop New Crypto Wallet
BitFlyer, the biggest crypto exchange in Japan in terms of trading volume, has announced a partnership with Brave, the privacy-protecting browser. According to the announcement, BitFlyer and Brave will develop “a crypto asset wallet for Brave browser users”. No further details about the new crypto wallet have been made available. Japanese users of Brave browser are rewarded with Basic Attention Token Points (BAP), due to regulations that prevent them from earning the cryptocurrency BAT, or trading their points for money on exchanges. The announcement is likely to fuel speculation that the new crypto wallet could pave the way to enable …
Bitcoin / July 9, 2020
Japanese Exchange Holdings of Bitcoin Surged During the Pandemic
The Japan Virtual and Crypto Assets Exchange Association (JVCEA) — a self-regulatory organization for the crypto industry in Japan — recently published a report on Japanese holdings of major cryptocurrencies in March. 169,376 BTC was held on Japanese exchanges, up more than 11% from the previous month. XRP was up 6.4% to 3.2 billion XRP. Ether was up more than 5.7% to 1.14 million ETH. Moreover, the number of Bitcoin Cash (BCH), Monacoin (MONA), Litecoin (LTC), and NEM (XEM) also increased slightly in March. The volume of Bitcoin spot trading was 617.3 billion yen (about $5.8 billion) in March, 11 …
Bitcoin / July 11, 2020
Options Trading Is a Huge Step for the Crypto Derivatives Market
For those of us involved in the cryptocurrency space, we've gotten used to the fast-paced nature of this rapidly growing industry. New technology quickly becomes old, bright shiny projects lose their luster, and what started out as a few privacy advocates sending “magic internet money” to one another has mushroomed into a whole new asset class with a robust infrastructure established around it. Every new product, application or financial instrument that we add has value and attracts more participants. Options trading is a huge step for the crypto derivatives market — and it’s already proving its worth. How the crypto …
Bitcoin / June 13, 2020
Rakuten's customers can now use Bitcoin for shopping
Crypto-friendly Japanese retailer Rakuten is now enabling users of Rakuten Wallet, its crypto exchange subsidiary, to easily spend their cryptocurrency holdings in everyday transactions. According to an announcement published last Wednesday, users are now able to load up their Rakuten Pay accounts seamlessly with their wallet holdings of Bitcoin (BTC), Bitcoin Cash (BCH) and Ether (ETH). Rakuten Pay is a mobile payment app that is operational nationwide and supported at a wide range of large- and medium-scale retailers. Back in 2019, Rakuten had already enabled consumers to convert their Rakuten Group loyalty points to cryptocurrencies like Bitcoin. Now, a deeper …
Adoption / March 1, 2021
95% of Ripple’s customers are not from the US, CEO Garlinghouse says
As Ripple reportedly prepares to relocate its headquarters outside of the United States, it turns out that only 5% of the company’s clients are based in the country, according to the firm’s CEO. On Dec. 2, Ripple CEO Brad Garlinghouse sat for an interview with CNN anchor Julia Chatterley to discuss Ripple’s regulatory hurdles in operating in the U.S. According to Garlinghouse, as much as 95% of the San Francisco-based company’s customers are located abroad. He claimed that Ripple’s services are not as popular in the U.S. due to the ongoing regulatory uncertainty around its associate token XRP, Garlinghouse said: …
Adoption / Dec. 3, 2020