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- Coincheck gains SEC approval to list on Nasdaq, marking a historic first for Japanese crypto exchanges in the U.S.
- Coincheck’s Nasdaq listing, achieved via the SPAC merger, reflects Japan’s growing global presence in the crypto industry.
Coincheck, a Tokyo-based crypto exchange and subsidiary of Monex Group, just received official approval from the United States Securities and Exchange Commission (SEC) to list on Nasdaq, a historic success for Japanese crypto exchanges in the US. Once trading starts, Coincheck will be the first Japanese exchange offered for public sale on a US stock exchange.
📰UPDATE: THE US SEC HAS OFFICIALLY APPROVED COINCHECK'S APPLICATION TO BE LISTED ON NASDAQ, MAKING IT THE FIRST FOR ANY JAPANESE CRYPTO EXCHANGE
— BSCN Headlines (@BSCNheadlines) November 14, 2024
Coincheck Set for Nasdaq Debut Through SPAC Merger with Thunder Bridge
The Nasdaq listing will come from a merger with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV. The merged company will be known as Coincheck Group once the merger is complete; shares will be traded under the ticker symbol “CNCK.”
Assuming all prerequisites are fulfilled on time, the listing is tentatively set for December 10, 2024. December 5 marks a pivotal point in this chronology when Thunder Bridge Capital Partners IV’s shareholders will cast votes to approve the transaction.
Coincheck also has to satisfy Nasdaq’s listing standards to guarantee a seamless operation of the procedure.
The clearance of Coincheck marks a significant change in the perspective of U.S. authorities on the possibilities of foreign crypto exchanges, particularly in markets usually more conservative like Japan. Strict rules meant to safeguard investors and preserve market stability control Japan’s cryptocurrency market.
For Coincheck, this SEC clearance not only shows faith in its activities but also emphasizes Japan’s growing importance in the worldwide crypto space.
This historic event might motivate other Japanese businesses to think about global influence and maybe target the U.S. market as a gateway. Such calculated actions show the goal of Japanese crypto companies to satisfy a varied worldwide customer base and surpass local markets.
Given Coincheck’s success in satisfying U.S. regulatory criteria, other crypto companies might now be motivated to follow like-minded worldwide projects. Moreover, this evolution coincides with expectations that the U.S. legal environment for digital assets would get more crypto-friendly, particularly as President-elect Donald Trump gets ready to take office.
While Coincheck is ready for this historic listing, the crypto ecosystem of Japan keeps growing in various directions. Recently, CNF brought attention to BitPoint Japan’s PEPE listing, therefore providing Japanese investors with the first licensed memecoin trading platform.
With a different method to lowering supply over time and a deflationary paradigm, PEPE could appeal to crypto aficionados in Japan who are drawn in by creative digital assets.
