tl;dr
Coincheck, a Tokyo-based cryptocurrency exchange and a subsidiary of Monex Group, is set to become the first Japanese crypto exchange listed on Nasdaq. This follows approval by the United States Securities and Exchange Commission (SEC) on November 13, 2024. Through a merger with Thunder Bridge Capit...
Coincheck, a Tokyo-based cryptocurrency exchange and subsidiary of Monex Group, is set to debut on Nasdaq under the ticker symbol CNCK after receiving approval from the United States Securities and Exchange Commission (SEC). This historic milestone, facilitated through a merger with Thunder Bridge Capital Partners IV, marks the first instance of a Japanese cryptocurrency exchange listing on Nasdaq.
The merger with Thunder Bridge Capital Partners will provide Coincheck with approximately $237 million for growth and expansion efforts, with Gary A. Simanson, CEO of Thunder Bridge Capital, leading the merged company to ensure Coincheck remains under Japanese ownership despite the U.S. listing.
The SEC approval and subsequent Nasdaq listing set a precedent for increased market integration between the U.S. and Japan in the cryptocurrency sector, potentially inspiring similar moves by other exchanges looking to enter U.S. capital markets.
According to the latest SEC filing, Coincheck is on track to become the first Japanese cryptocurrency exchange listed on Nasdaq, with trading scheduled to begin on December 11. This development follows the SEC’s approval of the exchange’s draft registration statement on Form F-4, which was submitted on November 7 and became effective on November 12.
As part of the merger, the combined Coincheck-Thunder Bridge entity will have access to approximately $237 million held in trust by Thunder Bridge Capital Partners, aimed at supporting growth and expansion efforts as Nasdaq welcomes its first Japanese crypto exchange.
The SEC approval and subsequent listing reflect a significant step toward increased market integration between the U.S. and Japan in the cryptocurrency sector, laying the groundwork for other exchanges to consider leveraging U.S. capital markets. The exchange debut on Nasdaq marks the culmination of a years-long effort to list on a U.S. stock market and signifies the growing acceptance and integration of digital asset firms within the traditional financial market.