Crypto Financial Group Menai Shuttering Market-Making Business in London, Tokyo

• Menai Financial Group is closing its market-making business in Tokyo and London.
• The firm is refocusing and has invested in expanding its asset management business.
• The move affects an unknown number of staff, making it the latest firm to cut jobs amid tough crypto market conditions.

Menai Financial Group Shuttering Market-Making Business

FinanceCrypto-Focused Menai Financial Group is shutting down its market-making business in Tokyo and London. The process of refocusing the group is ongoing and could still be sold or internal staff reallocated, according to one source with knowledge of the matter. It isn’t clear how many people will be affected by this closure.

Investing In Asset Management Business

The company said that it continues to invest in expanding its asset management business and remains a strong believer in blockchain technology, especially as it relates to tokenizing financial and real-world assets. Last November, index provider MSCI started its own set of digital assets indexes in collaboration with Menai Financial Group and Compass Financial Technologies.

Crypto Winter Affects Industry Players

This move makes Menai the latest firm to refocus operations and cut staff due to the difficult crypto market conditions. According to CoinDesk’s count, an estimated 26,702 people had lost their jobs as of December 9 last year due to the “crypto winter”.

MSCI Digital Assets Indexes

The MSCI digital assets indexes are unique from other digital asset trackers because they track the performance of the largest digital assets by market cap, digital assets that use proof-of work consensus mechanisms, and those associated with tech platforms that support smart contracts.


In conclusion, Menai Financial Group’s decision to shutter their market-making business reflects a larger trend within the industry where firms are cutting jobs due to difficult crypto market conditions. However, despite these cuts, Menai has continued investing in their asset management business while also partnering with MSCI on developing new digital assets indexes for tracking performance among different types of crypto coins.