Monex Group

Monex Group Will Pay Bitcoin Dividend to Shareholders

Japanese financial service Monex Group will grant Bitcoins as a mid-term shareholder benefit for the fiscal year of 2019. This benefit would be in addition to existing shareholder benefits.

The offer will be applicable to shareholders who are holding the company’s stock at the end of September. The company rolled out this service in response to increasing demands for building assets in cryptocurrencies. Monex will be grant bitcoin equivalent to 500 yen to those shareholders who hold Coincheck accounts. It is an exchange that the company’s subsidiary, Coincheck, Inc operates. However, Monex is yet to decide whether this trend will continue the post fiscal year 2019.

The shareholders must hold at least 100 shares in the brokerage accounts of Monex as of 30 September or 31 March each year. Also, they must trade at least once per the referred period to receive dividends in Bitcoin. The trading only applies to cash trading and not margin trading. The requirement of shareholders recorded in the shareholder’s list as of 30 September should be to open a Coincheck account and complete the application by March 31, 2020. This is to receive the 500 yen equivalent Bitcoin in early April 2020.

The move marks the latest step in the rejuvenation of the troubled Coincheck under auspices of Monex Group as per the source.