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Japanese Crypto Exchange Coincheck Gets Approval to Launch in the US

Key Points:

Japanese crypto exchange Coincheck is set to become the first Japanese crypto exchange to list on the Nasdaq, with a debut expected by December 10.
The listing will be completed through a merger with Thunder Bridge Capital Partners.

Coincheck, a Tokyo-based cryptocurrency exchange under the ownership of Monex Group, is about to make history as the first Japanese crypto exchange to hit U.S. Nasdaq Global Market.

Japanese Crypto Exchange Coincheck to Make Historic Debut

A press release issued by Monex Group recently reported that Japanese crypto exchange Coincheck has secured the filling approval of the U.S. Securities and Exchange Commission, which means the exchange has attained all the necessary legal benchmarks for listing. This could happen as early as December 10, pending completion of the final steps in the merger process.

The Nasdaq listing will be through Coincheck’s merger with Thunder Bridge Capital Partners, a SPAC. TBCP is expected to hold a shareholder meeting on December 5 to approve the merger, which would keep Coincheck as a consolidated subsidiary of Monex Group.

New Market Pathway for Japanese Crypto Firms in the U.S. Capital Markets

Analysts see this event as a game-changer that would make other Japanese cryptocurrency exchanges pursue the same route for an eventual listing in the U.S. stock market. It is also viewed as a step closer to further cooperation between the Japanese and U.S. markets of the digital finance sector, which will be even more encouraged by a pro-crypto regulatory stance under the incoming administration of the United States.

Japanese crypto exchange Coincheck, notably known for losing $530 million to hackers in 2018, has tried to rebuild its reputation. The listing on Nasdaq is expected to further solidify Coincheck’s place within the global crypto market and may well pave the way for other listings.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.