Crypto Exchange Operator Affiliate to Launch Blockchain Genome Platform

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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June 26, 2023 06:55 EDT

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An affiliate of the Japanese crypto player and securities giant Monex Group is set to make use of a new blockchain technology-based platform as part of an ambitious genome research project.

Per a press release, Genex, a Tokyo-based startup founded last year that is 40% owned by Monex, is looking to build a comprehensive health platform using blockchain technology. The platform, it said, will allow researchers to access a plethora of genome-related data based on the saliva, blood, and other samples of “tens of thousands” of individuals.

The platform is set to debut in April.

The firm said that the data will help scientists and researchers in their hunt to discover new drugs and healthcare solutions. It also claimed that the platform would allow patients to become active participants in their own healthcare, and stated that it would be used to provide “healthcare-related services.”

Genex claimed that it would “actively incorporate the Monex Group’s blockchain technology and knowledge to strengthen security, privacy, and innovation” on its new platform.

And the startup added that it had raised funding for its project from a third-party allotment deal financed by Monex, as well as the Japanese pharmaceutical giant Sugi Pharmacy (the drugstore arm of the Sugi Holdings group). Funding has also been forthcoming from Kaken Pharmaceuticals, a drug manufacturer and real estate firm.

Monex owns the Coincheck crypto exchange in Japan, as well as the TradeStation crypto trading platform in the United States. It has also backed a range of other blockchain and crypto projects.
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