Coincheck, a Tokyo-based cryptocurrency exchange owned by Monex Group, is preparing to make history as the first Japanese crypto exchange to be listed on the Nasdaq Global Market.
With its listing approved by the United States SEC on November 13, Coincheck is expected to debut as early as December 10 through a merger with Thunder Bridge Capital Partners (TBCP), a special purpose acquisition company (SPAC). This landmark event could pave the way for other Japanese exchanges to follow suit in entering U.S. markets.
SEC Approves Coincheck’s Listing on Nasdaq
The SEC recently approved Coincheck’s draft registration on Form F-4, marking the final regulatory step required to secure its Nasdaq listing. The merger with TBCP is structured to keep Coincheck under the Monex Group umbrella, allowing it to remain a consolidated subsidiary after the listing.
By leveraging the SPAC merger route, Coincheck aims to fast-track its entry into the U.S. market, a strategic move anticipated to strengthen its global presence and brand recognition. This development is expected to enhance market ties between the U.S. and Japan, facilitating broader integration within the cryptocurrency sector.
The listing, scheduled to commence trading on December 11, follows a prolonged regulatory journey for Coincheck and comes at a time when interest in U.S. listings among Japanese companies is rising.
Also read: Trump Considering Robinhood’s Top Lawyer For Pro-Crypto SEC Chief
Why is this Listing Important?
Industry experts view this debut as a crucial step for Japanese exchanges, which have often been limited by regulatory frameworks unique to Japan. By listing on the Nasdaq, Coincheck is not only breaking ground for itself but is also establishing a precedent for other Japanese cryptocurrency firms contemplating U.S. market entry.
Thunder Bridge Capital Partners has set a shareholder meeting for December 5, during which stakeholders will discuss and vote on finalizing the merger with Coincheck. The shareholder vote is among the last steps needed to complete the transaction, with Coincheck’s Nasdaq debut just days away.
Beyond the immediate impact on Coincheck, the Nasdaq debut is anticipated to stimulate interest among other Japanese cryptocurrency exchanges. Analysts speculate that more Japanese firms may now consider similar paths to access the vast resources of U.S. capital markets.
Also read: Binance and CZ File Motion to Dismiss SEC’s Amended Lawsuit Over Regulatory Clarity
The Road Ahead for the Two Nations
The trend could inspire a new wave of cross-border investments and partnerships between the two nations, strengthening global confidence in Japanese firms and enhancing the liquidity of cryptocurrency markets.
This historic listing not only reflects Coincheck’s commitment to expanding its market reach but also highlights the growing acceptance and regulation of cryptocurrency exchanges within major financial markets like the U.S.
By listing on Nasdaq, Coincheck is making a strategic bid to gain credibility and attract a diverse range of investors. The move could also impact Monex Group’s overall market position, as the listing places its subsidiary on a significant global platform, potentially increasing both visibility and investment from institutional and retail investors alike.