Monex shareholders to receive BTC as dividends

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Monex Group Inc. announced on September 25 that shareholders will receive their midterm dividends in the form of BTC. Besides paying existing shareholders in the digital asset, those who hold shares in the company as of September 30 of this year will also receive their dividends in the digital currency.

For shareholders who currently hold Coincheck accounts, Monex will pay an amount that is equivalent to 500 Japanese yen ($4.65) in BTC. Those who wish to claim the dividend are required to have or to open a BTC wallet if they don’t currently have one. Funds will be deposited into this account.

Those in the media and Japan are declaring this to be a significant event. It is the first time that a major securities company in the country has given a form of cryptocurrency as a bonus to shareholders. However, others have used digital currencies as a form of payment. Last month SBI Holdings paid its shareholders in Ripple’s XRP.

Whether this will be a permanent decision has not been stated by the company. No one has made it clear if they plan to pay shareholder benefits in March using cryptocurrencies.

All shareholders will receive their dividends in the crypto asset. It does not matter how many shares they have, but they must have a Coincheck e-wallet account to get paid. In the announcement, the company wrote, “Shareholders are required to open accounts in Coincheck and complete the application in the ‘Shareholder Benefit Application Site’ by 11:59 p.m. on March 31, 2020, in order to receive 500-yen equivalent cryptocurrency BTC in early April 2020.”

They explained in their statement that they are “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.”

In addition to receiving digital currency, shareholders will also receive Monex Points. One of these points is equal to one yen and will give shareholders value that can be used toward purchasing additional shares in the future.

In one additional announcement, Monex Group issued a statement that they are appointing the general manager of strategic planning, Yuya Asamura, as their new Executive Director. He will take his new position on October 1.