Monex CEO Claims Crypto As New Form of Mainstream Banking

According to current mainstream beliefs, circulating cryptocurrencies such as Bitcoin remain too volatile for commercial daily use. However, Oki Matsumoto, the Chief Executive Officer of Monex, predicts that very soon a stable token will be introduced and quickly take president within the crypto community. He also believes this currency will gain enough credibility to stand as an alternative to traditional fiat transactions.

Digital Currency Offers Potential That Can’t Be Ignored For Long

April this year, Coincheck Inc, a digital exchange based in Tokyo, was acquired by Monex for $33M dollar deal. Reactions to the acquisition were skeptical as the exchange had recently experienced a cyber hack of $530M dollars not long before. Monex CEO Matsumoto stood by the acquisition as he believes future opportunities outweigh the current potential risks.

According to The Japan Times, Matsumoto stated that digital assets offer huge potential and that risks can be managed especially considering the already established brand awareness Coincheck has created for itself. A paralleled notion by Joseph Lubin, Ethereum’s Co-Founder, indicated that despite general market value decrease, the Crypto world is far too powerful to be stunted in growth.

New Opportunities to Come With Fintech Innovation On the Rise

Monex’s CEO maintains faith in the Coincheck project and the digital currency space at large despite current dips in the market. He is among those who believe that financial technology will continue to develop and innovate the foundation of cryptocurrency as we know it today, surpassing any market stresses and building upon sophisticated payment methods and financial solutions.

Matsumoto pointed out that financial business that expand on blockchain related technologies are more likely to become key players in the wider fintech revolution. He remains optimistic about this development process predicting a future of new products and services that offer more freedom than current cryptocurrencies in circulation today.

The Crypto Economy Requires A New Tailored System for Digital Banking

During an interview with The Japan Times, Monex CEO and key member Matsumoto stated that the digital scene requires a new entity to encourage crypto banking and other financial services. According to his perspective, the traditional structure of today’s financial institutions will not work efficiently for the digital market. Instead he proposed a fine-tuned approach and resources designed specifically for the crypto market. He went on to saying, either way, digital currency is guaranteed to become a major aspect of consumer’s daily finances which should put pressure on regulators to help encourage financial solutions that are secure and sophisticated.

2 years ago

Start Weekly Digest

Similar news