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Coincheck Group, the parent company of Japan’s leading cryptocurrency exchange Coincheck, has officially gone public on the Nasdaq Global Market.
Trading under the ticker symbol CNCK, the company’s listing follows a $1.3 billion merger with Thunder Bridge Capital Partners IV.
In a statement on Wednesday, Coincheck’s leadership lauded this as a significant step toward expanding its footprint beyond Japan and strengthening its position in the global cryptocurrency and Web3 ecosystems.
Founded in 2012, the company serves over 2 million users in Japan and has played a vital role in popularizing cryptocurrencies domestically, particularly with its intuitive platform that appeals to newcomers. Despite suffering one of the largest hacks in cryptocurrency history in 2018 – resulting in the loss of $534 million worth of NEM tokens – the exchange recovered by reimbursing affected customers and enhancing its security.
Since 2018, Coincheck has operated as a subsidiary of the Monex Group, a financial services conglomerate that has bolstered the exchange’s governance and regulatory compliance. Coincheck currently offers trading for popular cryptocurrencies like Bitcoin and Ethereum and has consistently ranked as the top cryptocurrency trading app in Japan for five years.
Executive chairman Oki Matsumoto, who is also the chairman of the Monex Group, highlighted the Nasdaq listing as a catalyst for Coincheck’s growth strategy. Speaking to investors, Matsumoto noted the company’s plans to acquire domestic competitors and similar businesses worldwide, leveraging its new public status to fuel expansion.
“There are lots of synergies in running this cryptocurrency business globally…the natural direction is to acquire [more] assets, not only in Japan but also in other parts of the world,” Matsumoto said, emphasizing the company’s goal to become a global leader in the digital asset space.
The merger with Thunder Bridge Capital raised approximately $31.6 million in gross proceeds, setting the stage for global recruitment, acquisitions, and partnerships. CFO Keigo Takegahara added that the transparency required by the U.S. Securities and Exchange Commission (SEC) would reinforce trust among investors and customers alike.
While the Nasdaq listing bolsters Coincheck’s growth ambitions, the exchange faces stiff competition from global players such as Binance and Coinbase. Additionally, regulatory landscapes vary widely across jurisdictions, which could present hurdles as Coincheck seeks to establish a global presence.
Despite these challenges, Coincheck’s leadership expressed confidence in its ability to innovate and capture new markets. CEO Satoshi Hasuo reiterated the company’s commitment to expanding its services and fostering a more inclusive global crypto economy.
