Japanese crypto exchange aims to go public on Nasdaq next year
A Japanese crypto exchange and Web3 platform is looking to grow by listing on the Nasdaq stock market by 2023.
According to a Q2 financial report filed with the US Securities and Exchange Commission (SEC), Tokyo-based crypto exchange platform Coincheck plans to go public on the Nasdaq next year.
The report also details that Coincheck, owned by Japanese financial firm Monex Group, will partner with a Special Purpose Acquisition Company (SPAC) and has expanded its crypto-related offerings to include metaverse and Web3 products as well as non-fungible tokens (NFTs).
“Following the proposed business combination with Nasdaq-listed SPAC, Thunder Bridge Capital Partners IV (THCP), Coincheck Group (CCG) plans to publicly [the] Nasdaq.
In addition to crypto asset exchanges, Coincheck has expanded its business areas to include NFTs, metaverse and Web3, while keeping fixed costs low and controlling ad spend in response to market conditions.”
The centralized exchange says the IPO is part of the company’s growth strategy that sees the firm benefit from gaining access to global investors, international workers and US markets.
“In partnership with THCP, CCG aims to expand its crypto asset business by gaining exposure to global investors, accessing the US capital markets and recruiting global talent to realize its growth strategy.”
Four years ago, Coincheck was hacked for hundreds of millions of dollars after a bad actor stole $655 million worth of Java-based blockchain NEM (XEM) and open source digital currency XRP.
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