Coincheck, the Japanese cryptocurrency exchange platform is about to list the price of the initial initial offering (IPO) in the United States (US) through Nasdaq in order for its company to be able to make large profits in the capital market.
In context, Nasdaq is the largest stock exchange in the world by volume and market capitalization.
It is understood that the majority owner of Coincheck, Monex Group will proceed with the Nasdaq listing procedure by signing an agreement with Thunder Bridge Capital Partners IV (SPAC).
The following is said to have been stated in a US Securities and Exchange Commission (SEC) filing document, while it will launch a Nasdaq Coincheck listing on July 2, 2023 if the overall process goes smoothly.
Meanwhile, the collaboration between Coincheck and SPAC can not only expand the crypto exchange company globally but also gain access to the US capital market.
According to Coincheck, the announcement regarding the company's direction was also made in March this year during the deal with Thunder Bridge Capital worth $1.25 billion.
He further added that the company has 1.75 million legal accounts representing 27% of Japan's crypto trading market share.
However, Coincheck reportedly experienced a loss in trading volume due to the bearish phase of the crypto market which resulted in total operating revenue halving for the quarterly reading.
On different sources, several crypto companies have also been seen partnering with SPACs, among them Bitcoin (BTC) mining company PrimeBlock struck a $1.25 billion deal with the company in April.
