Monex’s Coincheck launches Coincheck Labs to support start-ups
Coincheck, Inc, a subsidiary of Japanese online trading company Monex Group Inc (TYO:8698), launches “Coincheck Labs” aimed at assisting start-ups that lead the age of Web 3.0.
As part of this, STAKE TECHNOLOGIES PTE LTD, a start-up in the process of developing a Japan-based public blockchain, was selected as the first company to receive support from the program.
The distributed digital protocol based on blockchain technology is accelerating movement towards the age of Web 3.0 and driving investments in start-ups seen to be leading this new age with crypto asset and Non-Fungible Tokens (NFTs). In Japan, however, unclear accounting rules and laws in the realm of crypto asset and NFT, coupled with a lack of expert insights, hinders entrepreneurship in this area, resulting in a lower number of start-ups compared to overseas.
To address this challenge, the company is stepping in to support start-ups in the crypto asset and NFT fields who have potential to lead the Web 3.0 age. Through Coincheck Labs, the company shares its experiences and expertise gained through the process of developing and operating its cryptocurrency transaction services, Coincheck, as well as its NFT marketplace, Coincheck NFT (β version).
Some of the applications in recent years, for example, DeFi which came to the forefront in 2020, and NFT, which grew rapidly in 2021, presuppose crypto asset as a natural protocol to transfer values, thus creating the new digital economy. At this turning point, the company wishes to contribute to the crypto asset and NFT areas in Japan, working with peers who are committed to taking on the challenge together.
Coincheck Labs will assist the blockchain and Web 3.0 ecosystem in Japan by supporting entrepreneurs, start-ups, and their communities who are focused on developing crypto asset-native and NFT-native products. Covering any products from Layer 1, the underlying architecture of blockchain, to applications, Coincheck Labs offers three stages of support including incubation, research, and investment.