Japanese Crypto Exchange Operator Coincheck Debuts on Nasdaq

Japanese Coincheck Group, the parent company of the crypto exchange operator Coincheck, announced that it has been publicly listed on the Nasdaq Global Market.

The exchange becomes the second regulated crypto firm to debut on Nasdaq, after Coinbase’s listing in 2021.

The Japanese crypto exchange obtained US Securities and Exchange Commission (SEC) Form F-4 approval in November. This means that the regulator reviewed the submitted documents and approved that they meet the legal listing requirements.

The filing had mentioned the “risks” involved, including price fluctuations inherent to the crypto markets and the uncertain regulatory landscape.

The listing was slated for completion in mid-December after the company’s merger with SPAC Thunder Bridge IV. Thunder Bridge noted that Coincheck would “retain its experienced management team,” including Oki Matsumoto as the executive chairman.

Coincheck shares will begin trading on Nasdaq under the ticker “CNCK” from December 11, 2024, the exchange’s official release read.

Following the listing, Coincheck (CCG) will leverage its strength “to further expand its cryptocurrency/web3 business through global recruitment, acquisitions, and capital and business alliances.”

“Going forward, as a core company of CCG listed on NASDAQ, we will focus more than ever on expanding the possibilities of cryptocurrency, a new means of value exchange,” Satoshi Hasuo, CEO of Coincheck, noted.

Coincheck was founded in 2012 and entered crypto trading in 2014, gaining prominence for its user-friendly interface.

Besides, several Japanese crypto exchanges apart from Coincheck, have unveiled their plans for global expansion, including DMM, Bitbank and bitFlyer.

Nasdaq’s Crypto Exchanges Listing So Far

In 2021, Coinbase became the first crypto exchange to debut on the US stock market. Coinbase opted for a direct listing rather than a traditional IPO.

The following year, crypto service provider Bakkt went public but chose the New York Stock Exchange for its listing.

The Korean Economic Daily, in September 2024, reported that South Korean crypto exchange Bithumb is considering a listing on Nasdaq. The exchange had a target of 2025 and selected Samsung Securities as its manager for the initial public offering.