In a groundbreaking move, Japanese mobile operator NTT Docomo announced on Wednesday its capital partnership with the esteemed crypto exchange, Monex. This strategic alliance aims to forge new avenues for asset formation services, promising a dynamic shift in customer experience.
During a press conference held on October 4 in Japan, Oki Matsumoto, Chairman of Monex Group, expressed his enthusiasm, stating, “It’s really exciting to join hands with NTT Docomo, a ‘giant’.”
According to a report from the Japan Times, NTT Docomo is set to acquire a 49% stake in the intermediate holding company for an impressive ¥48.5 billion (equivalent to $326 million USD), solidifying Monex as a consolidated subsidiary. Additionally, NTT Docomo will hold the prerogative to nominate a majority of board members for the new intermediate holding company.
While existing customers will continue to access familiar services, this capital and business alliance promises to elevate the overall experience. An official release stated, “Through this capital and business alliance, we will provide an even more advanced and wonderful experience.”
With this strategic move, Monex is poised to revolutionize asset building services, envisioning a next-generation approach that seeks to empower individuals in Japan. Their goal is to generate a meaningful social impact through investment endeavors.
Monex Group, renowned for its crypto asset business, also operates a robust online securities business in Japan and the United States, which serves as its cornerstone. Recently, the group has diversified its portfolio to encompass asset management and educational services.
In light of this partnership, Yuko Seimei, the current president of Monex, is slated to continue her service with the company after the transitional date of January 4.
This capital partnership between NTT Docomo and Monex is poised to reshape the landscape of asset formation services, offering customers a forward-looking, innovative approach to building and managing their assets. The collaboration is set to officially commence on January 4, 2024, marking a pivotal moment in the evolution of financial services in Japan.