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Coincheck is issuing new shares in exchange for Monex’s 97 per cent stake in 3iQ, a deal that values the Canadian crypto firm at about US$112 million. Coincheck is offering the same terms to 3iQ’s remaining minority shareholders in an effort to own 100 per cent of the company. (The Logic)
Talking point: Japanese financial group Monex acquired 3iQ in 2023 to bolster Coincheck’s offerings for institutional investors. 3iQ was the first firm in North America to launch exchange-listed funds for bitcoin and ether, paving the way for bitcoin ETFs in 2021, which were also a Canadian first. Coincheck has been on an acquisition streak. In October, it bought Aplo, a crypto prime brokerage for institutional investors based in Paris, and in March it purchased Next Finance Tech, which helps investors lock up tokens for a period of time in exchange for rewards. Coincheck said in a release it plans to integrate its recently acquired firms’ offerings into its platforms.
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