Cryptocurrency Exchange Coincheck to List on Nasdaq via SPAC Deal

Japanese crypto exchange Coincheck has announced plans to list on Nasdaq in the second quarter via a $1.25 billion SPAC deal with Thunder Bridge Capital Partners IV ( THCP).

The transaction is expected to close in the second quarter. The shares will receive the ticker CNCK.

The combined company was valued at $1.25 billion. The share of the main shareholder of Coincheck, Monex Group, will be 82%. THCP will provide $237 million in cash. 

The press release states that the FSA-regulated platform serves 1.5 million verified customers, offering the largest number of crypto assets and IEO opportunities among Japanese exchanges.

In 2018, Coincheck suffered one of the largest hacks in the history of cryptocurrencies. More than half a billion dollars in NEM cryptocurrency was stolen from the platform.