Coincheck, a Japanese cryptocurrency (virtual currency) company, will be listed on the Nasdaq in the United States within this year through a merger with a SPAC (special purpose merger and acquisition company). It will become the first Japanese cryptocurrency company to list in the United States.
Japanese financial services company Monex Group announced on the 22nd that its subsidiary, Coincheck, which operates a cryptocurrency exchange, will be listed on Nasdaq in the United States. The merger will be listed on Nasdaq in 2022. If the above listing plan comes true, Coincheck will become the first Japanese cryptocurrency company to list in the United States.
Monex pointed out that a new intermediate holding company “Coincheck Group BV (hereinafter referred to as CCG)” will be established, and Coincheck and the above-mentioned SPAC companies will be incorporated under CCG’s banner. After that, CCG will be listed on Nasdaq in 2022 with the stock code “” CNCK”, and CCG will remain a connected subsidiary of Monex after listing.
Coincheck started operating a cryptocurrency exchange business in 2014. Currently, it has more than 1.5 million accounts, has a market share of nearly 30% in the Japanese market, and has assets under custody of US$3.8 billion (approximately 450 billion yen).
Coincheck had a large-scale theft in January 2018, and about 58 billion yen worth of cryptocurrency was stolen. It was twice requested by the Japanese Financial Services Agency to carry out business improvement measures, and then became a full subsidiary of Monex in April 2018.