SEC Approves Coincheck’s Listing on Nasdaq
It positions Coincheck to become the first Japanese cryptocurrency exchange listed on Nasdaq, following approval by the United States’ Securities and Exchange Commission. The major milestone follows years of Coincheck’s ambitions to expand its operations and market reach. Pending a merger with Thunder Bridge Capital Partners IV, Coincheck’s listing is expected to go live by mid-December, a historic move that would finally open the U.S. market to the Tokyo-based exchange.
SEC Approval and Next Steps for Coincheck
On Nov. 7, the SEC declared effective Coincheck’s confidential draft registration statement on Form F-4, filed on Nov. 12. The regulatory milestone allows Coincheck to finalize its merger with Thunder Bridge Capital and start trading on Nasdaq under the ticker symbol CNCK. Thunder Bridge Capital will hold a shareholder meeting on Dec. 5 to vote on the partnership that will finalize the merger. If successful, Coincheck shares would be listed on Dec. 11, the day after the merger close date.
Strategic Merger with Thunder Bridge Capital
Listing does not mean Coincheck operates alone; it remains a subsidiary of the Monex Group while maintaining a tie-in with the Japanese financial giant but showing its presence to the world. Also, the merger is going to enable Coincheck to tap into $237 million in trust from Thunder Bridge Capital with financial momentum for its Nasdaq debut. The merged entity will be spearheaded by Thunder Bridge’s chief executive Gary A. Simanson with his leadership at its helm. In the listing, ownership of Coincheck by Monex Group is expected to be retained at 82% while keeping control and expanding in the U.S. market.
A Long-Awaited Milestone for Monex Group
Monex Group, the parent company of Coincheck, had initially targeted a listing in Nasdaq via a $1.25 billion merger in 2022. However, the latter was postponed due to pending regulatory approvals. With the regulatory hurdles now cleared, the consummation of the merger now completes Monex Group’s plan to position Coincheck as one of the more important global players in cryptocurrency exchange.
About Coincheck: Japan’s Pioneering Crypto Exchange
The Coincheck exchange was founded in Tokyo in 2012 and became one of the leading cryptocurrency exchanges with NFTs in the world, having users all over the world. It was headed by Rejupress initially, and later in the year 2018, it got acquired by Monex. Since then, Coincheck has been very trustworthy with its secure and innovative crypto solutions.
