Coincheck Exchange is going public marking a historic push as the broader digital currency ecosystem enter a new growth phase
Monex Group, Inc.’s consolidated subsidiary, Coincheck Group, has become the first Japanese crypto exchange operator listed on the Nasdaq global market. It is also the second regulated crypto exchange operator to go public since American cryptocurrency exchange Coinbase did the same in 2021.
Ripple and USDC stablecoin issuer Circle may join the list soon, as they are in the middle of preparations.
Coincheck Group IPO Will Solidify its Position
According to Coincheck Group, it has now fulfilled all requirements and procedures for going public on the Nasdaq Global Market in the United States. This includes filing their final F-4 form with the U.S. Securities and Exchange Commission (SEC) as far back as May. Consequently, its shares are scheduled to go public by December 11, with the ticker “CNCK.”
Conversely, Coincheck warrants will trade on the same platform under the ticker symbol “CNCKW.”
The Dutch public limited liability company recently finalized its merger with Thunder Bridge Capital. This $1.3 billion special acquisition merger has now ushered Coincheck’s trading on Nasdaq. Their business combination gave rise to gross proceeds of approximately $31.6 million for the combined company.
“The completion of our business combination with Thunder Bridge IV marks an extraordinary milestone for Coincheck,” said Oki Matsumoto, Representative Executive Officer and Chairman of Monex Group, Inc., and Executive Chairman of Coincheck. “We are incredibly proud and excited to become a Nasdaq-listed company and to see what the future holds for the Coincheck group companies and our shareholders.”
Noteworthy, the IPO solidifies Coincheck’s dominant position in Japan’s crypto asset trading industry and establishes the group as a global player in the crypto and Web3 industry.
Institutional Demand For Bitcoin And Other Crypto Climbs
This news comes as the broader cryptocurrency market is experiencing an upsurge.
Bitcoin (BTC) is currently trading at $100,533.20, a significant distance from its price at the beginning of this year. At this rate, it is normal for investors and traders to favor the firstborn digital asset and other cryptocurrencies as well.
In the meantime, many institutional investors are already taking their share of the rebounding crypto market. The Coinbase Premium Index recently showed high demand for BTC from institutions rather than retail.
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