Investment advisory firm Monex Group expressed interest in buying FTX Japan, the Japanese subsidiary of bankrupt exchange FTX, Bloomberg News reported Jan. 16.

Monex CEO Oki Matsumoto told Bloomberg that less competition within the local market would make the investment a “very good thing” for the firm. Matsumoto said:

“Generally speaking, we naturally are interested.”

Furthermore, Matsumoto noted that the crypto market in Japan has a lot of potential because companies might use nonfungible tokens for marketing campaigns or invest in digital assets due to liberal Japanese regulations. 

Thus, the Monex CEO hopes to establish the company as one of the most preferred options for local customers.