Coincheck's profit is comparable to that of Japan's leading stock exchange

Just a few years ago, crypto exchanges began to gain momentum and popularity. According to financial reports, the profitability of popular crypto platforms is approaching those of the Stock Exchanges. The era of cryptocurrency has arrived, which no one believed in just a couple of years ago.

Coincheck's profits are almost equal to those of Japan's leading stock exchange. According to its parent company Monex Group Inc, Japanese crypto exchange Coincheck generated ¥53.5 billion (approximately $490 million) in revenue between April 2017 and January 2018, Bloomberg reports. 

By comparison, Japan Exchange Group, an operator of leading equity and derivatives markets, earned ¥71.8 billion ($657 million) in its last fiscal year, which ended in March 2018. The traditional exchange's profits are about the same as Coincheck's. 

Coincheck was acquired by Money Group Inc. April 16, 2018 as a subsidiary. The reason for this was the theft of cryptocurrency NEM worth $532 million from his wallets, after which it was decided to change the shareholders and management. 

Monex Group management estimated that by the end of the fiscal year, it had recovered ¥47.2 billion ($432 million) in losses to affected users, and even so, the company still generated ¥6.3 billion in revenue from ¥62.6 billion in sales.

Following the Coincheck hack in February 2018, the Japanese Financial Services Agency (FSA) mandated that all registered and unregistered domestic crypto exchanges to provide a report on the operation of the risk management system, which Coincheck itself submitted to the agency on February 13. All unregistered Japanese crypto exchanges have been subject to FSA inspections locally, and even internationally we are seeing increased regulatory scrutiny. 

According to https://cointelegraph.com