Japanese financial services giant Monex submits application to join Facebook’s Libra

Monex Group, the Japan-based online brokerage firm that also owns cryptocurrency exchange Coincheck, has submitted an application to join Facebook’s Libra project.

The news was announced by Monex president Oki Matsumoto at a meeting, Reuters Japan reported Friday. The Libra Association will reportedly be reviewing the group’s application around the end of September.

Libra cryptocurrency offers “various possibilities," said Matsumoto, including financial inclusion and cross-border product sales.