A Japanese crypto exchange and Web3 platform is looking to grow by going public on the Nasdaq Stock Market by 2023.
According to a Q2 fiscal report filed with the U.S. Securities and Exchange Commission (SEC), Tokyo-based crypto exchange platform Coincheck is planning to go public on the Nasdaq next year.
[adinserter block="1"]The report also details that Coincheck, owned by Japanese financial services firm Monex Group, will be collaborating with a Special Purpose Acquisition Company (SPAC) and has expanded its crypto-related offerings to include metaverse and Web3 products as well as non-fungible tokens (NFTs).
“After the proposed business combination with Nasdaq-listed SPAC, Thunder Bridge Capital Partners IV (THCP), Coincheck Group (CCG) is planning to go public on [the] Nasdaq.
In addition to crypto asset exchanges, Coincheck has expanded its business areas to include NFTs, metaverse, and Web3, while keeping fixed costs low and controlling advertising expenses in response to market conditions.”
The centralized exchange says that going public is a part of the company’s growth strategy that sees the firm capitalizing from gaining access to global investors, international workers and US markets.
“Working together with THCP, CCG aims to expand its crypto asset business by gaining exposure to global investors, accessing the US capital markets, and recruiting global talent to realize its growth strategy.”
Four years ago, Coincheck was hacked to the tune of hundreds of millions of dollars after a bad actor stole $655 million worth of Java-based blockchain NEM (XEM) and open source digital currency XRP.
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