Cryptocurrency Exchange Coincheck Will Be Listed On Nasdaq

Cryptocurrency exchange Coincheck will be listed on the Nasdaq. Crypto exchange Coincheck signed a $1.25 billion deal.

Cryptocurrency and digital asset exchange Coincheck, a subsidiary of Japan-based financial services company Monex Group, has agreed to a merger with special purpose buyout firm Thunder Bridge Capital Partners. According to the announcement made by the parties, the new company that will be formed after the merger will be based in the Netherlands and will be a subsidiary of Coincheck. The new name will be Coincheck Group N.V. and this company will be listed on the Nasdaq shortly. The listed company's abbreviation will also be CNCK. The firm will have offices in New York, Tokyo and the Netherlands. The merger agreement between the companies will be worth approximately $1.25 billion (125 million shares). In addition to this deal, Coincheck shareholders will also be able to acquire additional shares, up to a maximum of 50 million, based on future movements in the new company's share price. The merger agreement was unanimously approved by the boards of Monex, Coinshares and Thunder Bridge companies. The deal is expected to be formally completed in the second half of 2022.