Coincheck has been serving Japanese clients since 2012 and is controlled by Japanese online broker Monex Group. Through the Coincheck exchange, the online broker seeks to expand its operations and enter the growing United States crypto market, according to Monex Group Chairman Oki Matsumoto.
The head of Monex said that Coincheck plans to use the proceeds from the sale of shares on Nasdaq to acquire stakes in American crypto companies.
Coincheck’s listing on Nasdaq was made possible by merging with a $1.3 billion special-purpose SPAC company, Thunder Bridge Capital Partners IV. This allowed Coincheck to debut on Nasdaq through direct investment, bypassing the IPO process. The company’s shares began trading under the ticker CNCK.
Coincheck has become the second cryptocurrency exchange after the American Coinbase, whose shares are traded on Nasdaq.
Earlier, one of the largest US stock exchanges, Nasdaq, applied to the Securities and Exchange Commission (SEC) with an application to launch options trading on the Nasdaq Bitcoin index.
Source: Bits
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