Originally published on: December 11, 2024
In a groundbreaking move, Coincheck Group, the umbrella company of the renowned Japanese cryptocurrency exchange Coincheck, is gearing up to enter the Nasdaq stock exchange on December 11.
The Amsterdam-based Coincheck Group finalized a merger agreement with the special purpose acquisition company Thunder Bridge Capital on December 10, paving the way for its much-anticipated debut on Nasdaq.
Post-merger, the ordinary shares and warrants of Coincheck will be up for trading on the Nasdaq exchange under the ticker symbols CNCK and CNCKW, respectively.
The merger, initially revealed in March 2022, is part of Coincheck’s strategy to become a publicly traded entity through a $1.25 billion de-SPAC transaction.
Established in 2012, Coincheck stands tall as one of Japan’s biggest crypto exchanges, boasting a whopping 1.5 million verified customers as of 2022. According to CoinGecko, Coincheck ranks among the top 100 crypto exchanges globally, facilitating trades worth approximately $165 million daily.
In January 2018, Coincheck made global headlines when it fell victim to a massive hack that saw the theft of $534 million worth of NEM (XEM) tokens. Despite the setback, the exchange diligently repaid its customers and remained stalwart in its crypto endeavors, ultimately aiming for a public listing.
Following the approval of Coincheck’s Nasdaq listing application by the US Securities and Exchange Commission in early November, the merger with Thunder Bridge culminated in gross proceeds of around $31.6 million for the combined entity.
Monex Group chairman and Coincheck’s executive chairman, Oki Matsumoto, expressed his delight at the merger, emphasizing the synergy between the robust Japanese business foundation and the US capital markets.
On the other hand, Thunder Bridge IV president and CEO Gary Simanson expressed eagerness at collaborating with Coincheck’s team to forge a leading global crypto and Web3 enterprise.
Coincheck’s imminent debut on Nasdaq represents a pivotal moment in the collaborative efforts between Japanese and American industry leaders, signaling a promising future for the crypto landscape.
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