Japanese Exchange Coincheck Targets Nasdaq Listing in Q3 – Crypto Adoption Rising?
Coincheck is set to become a publicly traded company by listing on Nasdaq, as revealed by the exchange on May 8. The company is seeking to achieve this through a merger with Thunder Bridge Capital Partners IV (THCP) by the third quarter (Q3) of 2024.
According to a Coincheck press release, the approval of Thunder Bridge IV’s stockholders is one key condition for the merger to proceed.
Certain conditions outlined in the definitive agreement between Coincheck and Thunder Bridge IV must also be met.
These requirements are typical for transactions and include the SEC declaring the registration statement effective, receiving specific regulatory approvals, and obtaining approval from the Nasdaq Stock Market to list the securities of the combined company.
Japanese cryptocurrency exchange Coincheck is expected to list on Nasdaq under the symbol "CNCK" via SPAC in the second or third quarter of 2024, becoming another listed major exchange after Coinbase. Coincheck has 1.98 million verified customers. https://t.co/2WanYtRGYj
— Wu Blockchain (@WuBlockchain) May 8, 2024
Once the merger is finalized, Coincheck Group B.V., the entity that controls Coincheck, will be renamed Coincheck Group N.V.
The new holding company will be domiciled in the Netherlands and will have Coincheck as its wholly-owned subsidiary. Coincheck Group N.V. expects to be listed on the Nasdaq stock exchange under the “CNCK” ticker, joining Coinbase (COIN) as another major exchange to be publicly traded in the US.
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