Japanese cryptocurrency exchange Coincheck wants to go public on Nasdaq on July 2, 2023, the exchange's owner Monex Group said in a US Securities and Exchange Commission (SEC) filing.
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The trading platform plans to list its shares on the US stock exchange through a merger with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV. The deal is valued at $1.25 billion and the holding company will be called Coincheck Group N.V.
Monex Group added that Coincheck is planning to expand its business by accessing the US capital markets, and "recruiting talent to realize its growth strategy."
Monex Group added in the SEC filing that Coincheck serves 1.7 million users and has in its listing 18 cryptocurrencies. In Q3, however, the exchange's revenue decreased due to reduction in net trading income.
Once the deal closes, Thunder Bridge IV President, Gary Simanson, will become the head of Coincheck Group N.V. Coincheck's parent company, Monex Group Inc., which owns 94.2% of the exchange, will retain all of its equity at closing.
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