Coincheck debuts on Nasdaq, boosting global credibility
Coincheck goes public on Nasdaq under CNCK
Monex Group, a leading financial services company, announced today that its subsidiary, the Japanese cryptocurrency exchange Coincheck Group NV, has successfully gone public and will begin trading on Nasdaq under the ticker symbol “CNCK” starting December 11, 2023, Eastern Time.
This significant milestone is expected to elevate Coincheck's global presence and reinforce its position as a major player in the cryptocurrency market.
Strengthening global recognition
According to an official press release, the Nasdaq listing is set to enhance the company's credibility and market influence. The press release further noted that Coincheck transitioned from a private limited liability company (BV) to a public limited liability company (NV) in compliance with Dutch corporate law as part of its organizational restructuring.
Monex Group will retain an approximate 80% stake in Coincheck Group following the listing, with a market valuation of around $1.6 billion (roughly 240 billion yen). This underscores Monex’s commitment to maintaining a strong role in Coincheck's future operations and growth.
Regulatory approvals and vision for growth
Coincheck’s journey to the Nasdaq listing began with the submission of a registration statement (Form F-4) to the U.S. Securities and Exchange Commission (SEC) on November 7. The SEC approved the filing on November 12, paving the way for the cryptocurrency exchange's public debut.
In a statement, Satoshi Hasuo, Chairman and Executive Director of Monex Group, emphasized the significance of this development for the broader cryptocurrency industry. “We see this as a step forward for the crypto asset ecosystem. As a Nasdaq-listed company, we are more determined than ever to advance crypto assets as a transformative medium for value exchange.”
Tomoyuki Isaki, a member of Coincheck's executive committee, echoed these sentiments, highlighting the company's commitment to innovation and safety. “We believe that blockchain technology and crypto culture have the potential to create a better world. Our goal is to design and operate products that are both secure and reliable, working alongside stakeholders to shape a new industry for the future of technology and cryptography.”
A new chapter for Coincheck
With its Nasdaq debut, Coincheck is poised to enhance its role in the global cryptocurrency market. The listing represents not just a financial milestone but also a commitment to fostering innovation and trust in the rapidly evolving crypto industry.
