SEC greenlights Coincheck to be the first Japanese crypto exchange on Nasdaq

Coincheck will become the first Japanese cryptocurrency exchange to list on Nasdaq after receiving approval from the United States Securities and Exchange Commission.

On Nov. 7, the SEC approved Coincheck’s confidential draft registration statement on Form F-4, which became effective on Nov. 12, according to the company’s press release.

The Japanese crypto exchange will debut on the Nasdaq Global Market following its merger with Thunder Bridge Capital Partners IV, making it the first Japanese crypto exchange to list on a US exchange.

Coincheck will remain a subsidiary of Monex Group following the listing through the merger with TBCP. Following approval, Thunder Bridge Capital will hold a shareholders’ meeting on December 5 to vote on finalizing the merger. Once the merger is complete, Coincheck will be officially listed on Nasdaq under the ticker symbol CNCK, with trading expected to begin on December 11, one day after the closing date.

In May 2024, Coincheck announced that its Form F-4 filed with the Securities and Exchange Commission was still under review. However, the crypto exchange expected the merger with Thunder Bridge to be completed in the second or third quarter of 2024. Following the merger, Coincheck Group BV will be renamed Coincheck Group NV.

Coincheck’s parent company, Monex Group, had originally planned to list the exchange on the US exchange through a $1.25 billion merger with Thunder Bridge Capital IV. However, the deal faced multiple delays due to the delay of Coincheck’s long-awaited Nasdaq listing.

As part of the deal, the combined entity will receive $237 million in escrow from Thunder Bridge. Additionally, Thunder Bridge CEO Gary A. Simanson will head the combined entity, and Monex will retain a majority stake of 82%.

Coincheck is a cryptocurrency exchange and NFT marketplace founded in 2012. Although headquartered in Tokyo, the crypto exchange caters to a global community. When it first opened in 2018, Monex Group, Inc. It operated under Rejupress before it was acquired by.