Coincheck, Japan’s second-largest cryptocurrency exchange, has officially stepped into the global spotlight by listing on the Nasdaq Global Market under the ticker symbol “CNCK” on December 10, 2024.
This landmark achievement makes Coincheck the first Japanese crypto exchange to trade on a U.S. stock market, joining Coinbase, which made a similar move in 2021.
The listing was achieved through a $1.3 billion merger with Thunder Bridge Capital Partners, a SPAC (special-purpose acquisition company) created to help private companies go public.
Coincheck remains a subsidiary of Monex Group, a Japanese financial powerhouse that acquired the exchange in 2018 for $33.5 million. While the merger faced delays due to regulatory hurdles, it was finalized with $31.6 million in proceeds for the newly formed entity, Coincheck Group N.V.
Coincheck’s path hasn’t been easy. The exchange faced a major setback in 2018 with a $530 million hack, one of the largest in crypto history. Remarkably, it bounced back by reimbursing all affected users and rebuilding its trust with the help of Monex’s resources.
Listing on the Nasdaq is a bold move to attract global investors and expand Coincheck’s footprint in the fiercely competitive crypto market. Oki Matsumoto, Executive Chairman of Coincheck, emphasized the importance of leveraging Japanese expertise and U.S. capital market opportunities to achieve this milestone.
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