Japanese exchange Coincheck to list on Nasdaq via SPAC listing

Coincheck, a Japanese wallet and crypto exchange, has announced its intention to list on the Nasdaq stock exchange through a special purpose acquisition with Thunder Bridge Capital.

The exchange will become a subsidiary of the Coincheck Group BV (CCG), with an intention to SPAC on the Nasdaq by the end of the year with a pre-money valuation of $1.25 billion, according to a statement. It follows several firms in the fintech and crypto sectors attempting to list via SPAC.  

The company stressed that CCG will remain a subsidiary of Monex Group, which acquired the exchange back in 2018. 


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Previously, the cryptocurrency exchange has been rocked by hacks. In 2o20, The Block reported that it suffered a data breach that may have exposed personal information such as a registered address and birthdate. This follows on from a separate hack where over a half-million dollars was stolen in 2018.  

Most recently, however, it's made moves into NFTs by launching a beta nonfungible token marketplace. The company says that through the extra cash from the listing it will continue to expand its services for its Japanese clientele along with further strengthening its security infrastructure.  

The Block has reached Coincheck for further comment on its decision to list in New York rather than locally but did not receive comment by the time of publication. 

About Author

Tom is a deals reporter at The Block covering venture capital, fundraises, fintech and M&A. Before joining, he was an editorial intern at the FT-backed platform Sifted where he reported on neobanks, payment firms and blockchain startups. You can reach him by email at [email protected] or Telegram @tommatsuda.