Online brokerage giant Monex has launched a new service, in collaboration with Tokyo-based NTT Docomo, that allows customers to purchase mutual funds using credit cards.
Boosting Investments in Mutual Funds
According to the press release, Monex will offer customers the ability to use NTT Docomo’s d CARD for regular purchases of mutual funds. This integration promises investors up to 1.1% of their monthly mutual fund payments back in d POINTs. Monex expects that this rewards system will encourage regular investments by offering tangible benefits.
Customers using d Card GOLD will reportedly have a flat return rate of 1.1% applied to periodic investments in NISA accounts. Monex has lauded this move as a way to provide users with financial services customized to their needs and simplify their investment processes.
In April, Monex Group finalized its acquisition of a majority stake in 3iQ Digital Holdings. The acquisition , initially unveiled in December 2023, integrated 3iQ and its subsidiaries into Monex's portfolio.
To boost 3iQ's growth, Monex committed $7.5 million to 3iQ's Managed Account Platform (QMAP). QMAP is designed to offer institutional investors a diverse range of crypto hedge funds. The company expects this investment to strengthen 3iQ's operation in institutional digital asset management.
Strengthening Global Presence
Monex's acquisition and investment in 3iQ aligned with its broader strategy to boost its asset management business. Monex has been expanding its reach in the APAC region, with plans to boost its sales team by 80%. Elsewhere, Nick Edgeley recently resigned as the CEO of Monex Europe Limited, the UK division of Monex Europe Holdings. Following his departure, Michael Quinn succeeded him. Quinn will also head Monex Europe Markets Limited, the investment firm’s division, as the CEO.
Edgeley founded Schneider Foreign Exchange in 2006, which was acquired by Monex in 2012, resulting in a rebranding. He is exiting the company after 18 years, reportedly to pursue other ventures outside the company. Under his leadership, the company expanded from a small team of four individuals to a global enterprise with operations spanning five international offices.
