The United States Securities and Exchange Commission (SEC) has approved Coincheck, a crypto exchange headquartered in Tokyo, Japan, to list on the Nasdaq Global Market. The milestone marks the first time a Japanese crypto exchange will be publicly traded on a stock exchange in the U.S.
The exchange will go public via a merger with Thunder Bridge Capital Partners IV, Inc. (“THCP”), a Nasdaq-listed firm established to assist private companies in making their market debut.
SEC Application Approval
With the SEC’s approval, TBCP is set to hold a shareholder vote on December 5 to authorize and complete the business merger, a crucial step for the listing to proceed.
If the shareholders approve, the merger with TBCP will be finalized, and Coincheck is expected to debut on Nasdaq on December 10, trading under the ticker symbol CNCK.
Coincheck has filed various documents to the SEC as part of the listing process. With the SEC’s recent approval, THCP will now distribute the final voting materials to its shareholders, who will vote on the merger.
THCP shareholders and other stakeholders are urged to examine these documents, which are accessible on the SEC’s EDGAR website.
The listing will allow Coincheck to access capital from U.S. markets, potentially expand into new regions, and enhance its trading and security capabilities.
For investors, the Nasdaq listing provides an opportunity to gain exposure to the growth of the crypto market via traditional stock investments without directly purchasing digital assets.
Nasdaq Listing Implications
The scheduled Nasdaq listing also represents a significant milestone for Japan and the U.S. If the merger is completed, it will enhance global market connectivity and may encourage other Japanese crypto exchanges to seek listings in international markets.
While the listing could attract other Japanese crypto exchanges, it may draw more global crypto companies to U.S. markets, further solidifying the country’s anticipated pro-crypto regulatory approach under President-elect Donald Trump’s upcoming administration.
Founded in 2014, Coincheck has long been one of Japan’s leading cryptocurrency exchanges, catering to millions of users in Asia. Coincheck made headlines in 2018 when it was acquired by Monex Group, a prominent Japanese online brokerage, following a high-profile hack in April 2018.
Since then, Monex has rebuilt Coincheck’s reputation by prioritizing security and regulatory compliance.
