Crypto exchange Coincheck plans Nasdaq listing in July 2023
The company's financials showed lower operating income and revenue due to the crypto bear market.
New
Japanese cryptocurrency exchange Coincheck has confirmed its intention to pursue a public offering of shares in the United States via the Nasdaq — a move that would give the company access to the country's lucrative capital markets.
In documents filed with the United States Securities and Exchange Commission on October 28, Coincheck's majority owner, Monex Group, confirmed that it was pursuing Nasdaq listing procedures through a merger with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV. If all goes as planned, Coincheck's Nasdaq listing will take place on July 2, 2023.
Coincheck said the SPAC merger would allow the exchange to expand its crypto-asset business and gain direct access to US capital markets. The technology-rich Nasdaq is one of the world's largest stock exchanges by volume and market capitalization.
As reported by Cointelegraph, Coincheck announced its IPO ambitions in March this year. At the time, the value of its merger with Thunder Bridge Capital was estimated at $1.25 billion.
According to Coincheck's financial statements, the company has 1.75 million verified accounts, which represents 27% of the crypto trading market share in Japan. However, the company reported a loss in trading volume due to the crypto bear market. Total operating revenue was down about half quarter over quarter.
Related: Bitcoin's Weak Hands 'Mostly Gone' as BTC Ignore Amazon, Meta Stock Falls
Several crypto-oriented companies have expressed...
The company's financials showed lower operating income and revenue due to the crypto bear market.
New
Japanese cryptocurrency exchange Coincheck has confirmed its intention to pursue a public offering of shares in the United States via the Nasdaq — a move that would give the company access to the country's lucrative capital markets.
In documents filed with the United States Securities and Exchange Commission on October 28, Coincheck's majority owner, Monex Group, confirmed that it was pursuing Nasdaq listing procedures through a merger with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV. If all goes as planned, Coincheck's Nasdaq listing will take place on July 2, 2023.
Coincheck said the SPAC merger would allow the exchange to expand its crypto-asset business and gain direct access to US capital markets. The technology-rich Nasdaq is one of the world's largest stock exchanges by volume and market capitalization.
As reported by Cointelegraph, Coincheck announced its IPO ambitions in March this year. At the time, the value of its merger with Thunder Bridge Capital was estimated at $1.25 billion.
According to Coincheck's financial statements, the company has 1.75 million verified accounts, which represents 27% of the crypto trading market share in Japan. However, the company reported a loss in trading volume due to the crypto bear market. Total operating revenue was down about half quarter over quarter.
Related: Bitcoin's Weak Hands 'Mostly Gone' as BTC Ignore Amazon, Meta Stock Falls
Several crypto-oriented companies have expressed...
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