Japanese Crypto Exchange Coincheck Goes Public in U.S.

New York, Dec. 11 (Jiji Press)--The holding company of Coincheck Inc. debuted on the Nasdaq Global Market on Wednesday, making it the first Japanese cryptocurrency exchange to be listed in the United States.

Coincheck, effectively controlled by Japanese online broker Monex Group Inc., aims to expand its operations through acquisitions in the United States and Japan, where the cryptocurrency industry is growing, using proceeds from the initial public offering of the holding company, Coincheck Group NV.

Coincheck Group closed at 13.35 dollars for a market capitalization of about 1.7 billion dollars. It went public in the United States through a merger with a special purpose acquisition company, based on a plan made by Monex Group.

The listed shares will be used as a "currency" for company acquisitions, Monex Group Chairman Oki Matsumoto said, expressing his desire to implement a growth strategy for Coincheck over the coming year.

Regarding the Japanese crypto industry, he showed an eagerness to buy rivals to expand Coincheck until the Fair Trade Commission steps in to stop his group.

[Copyright The Jiji Press, Ltd.]