Japanese Crypto Exchange Coincheck Resumes Trading in XRP and FCT

Siamak Masnavi

On Monday (26 November 2018), the Japanese financial services company Monex Group, the owner of the Japanese crypto exchange Coincheck, announced that the exchange had now resumed trading of XRP and FCT.

Coincheck, which according to CNBC, lost around 523 million NEM tokens (worth approximately $534.8 million at the time) in an attack that occured on 26 January 2018, was acquired by the Monex Group on 6 April 2018. Back in April, Monex's press release explained how the company hoped to help Coincheck provide a much more secure environment for the exchange's customers:

"We aim to build a secured business environment for customers by fully backing up Coincheck's enhancement process. Specifically, we will maximize the use of our expertise and human resources of business administration, system risk management, and customer asset protection system that we have cultivated since the establishment in the online securities industry. We will support Coincheck to provide secure environment to customers and to grow sustainably as a socially valuable cryptocurrency exchanger."

Today's press release from Coincheck said that the exchange had "resumed depositing and purchasing services for XRP and FCT." It explained that:

  • "Coincheck had suspended certain services in order to protect the integrity of customers' assets and to investigate the cause of the breach to its system on January 26, 2018."
  • "Since then, Coincheck had been working to improve its management structure and internal control by carrying out business improvement plans."

Furthermore, it said that, as of today, the following services were available:

  • "New account openings (Domestic residents only)"
  • "Depositing , purchasing , remitting and selling cryptocurrencies"; (BTC, ETH, ETC, LTC, BCH, XEM, LSK, FCT, and XRP)
  • "Depositing and withdrawing JPY"
  • "Making settlements and margin deposits/withdrawals on existing leveraged transactions"
  • "Cryptocurrency lending service"

At press time, according to data from CryptoCompare, XRP is trading at $0.3559, up 2.41% in the past 24-hour period.

Featured Image Courtesy of Coincheck