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Monex Group announced today that its affiliated subsidiary i.e., Japan’s crypto exchange, Coincheck Group (Coincheck Group NV), has been successfully listed and will debut on Nasdaq (NASDAQ) in the United States. Starting from the 11th of December, Eastern Time, the stock will trade under the ticker symbol “CNCK.”
Coincheck Group N.V.のNASDAQ上場のお知らせhttps://t.co/2kEZo6JCBq@NasdaqExchange
— Coincheck(コインチェック) (@coincheckjp) December 10, 2024
Coincheck(CNCK) is Now Live
As per the official press release, The listing is expected to strengthen the company’s credibility and establish Coincheck as a significant player in the crypto business.
The translated press release also states, “Due to this listing, the name has been changed due to the organizational change from a private limited liability company (B.V.) to a public limited liability company (N.V.) under Dutch law.”
Following the listing, Monex Group will retain approximately 80% of CCG’s shares, with a market valuation of approximately US$1.6 billion (nearly 240 billion yen).
Coincheck filed a Form F-4 registration statement on November 7, which the SEC approved on November 12. The current SEC regime under Gary Gensler has long faced criticism for its strict regulatory stance on crypto, exchanges, and firms, including the issuance of multiple Wells notices, which critics claim have been “hurting innovation” in the crypto industry.
This listing holds significant importance as it is expected to encourage global market integration and inspire not only Japanese crypto exchanges but also international businesses to apply for listings on global platforms. Such developments align with the vision of President-elect Donald Trump, who emphasized fostering competitive markets. The optimism surrounding Paul Atkins’ potential nomination as SEC Chair has further instilled hopes for a more crypto-friendly regulatory environment in the United States, making the nation an attractive hub for crypto businesses.
Meanwhile, Dubai and Singapore continue to serve as havens for the crypto industry. However, the US’s evolving strategy could intensify global competition, with other nations vying for the industry’s attention. Recently, the UK also announced plans to introduce a comprehensive regulatory framework for crypto businesses, recognizing that the US is rapidly becoming a focal point for firms seeking a conducive environment for growth and innovation.