Coincheck Group to Acquire Digital Asset Manager 3iQ in $112M Stock Deal

Coincheck Group, the Nasdaq-listed Japanese crypto exchange holding company, has agreed to purchase a 97% stake in Canadian digital asset manager 3iQ from its majority owner, Monex Group. The transaction values 3iQ at $111.84 million, based on Coincheck Group shares priced at $4 each, with plans to seek full ownership by offering the same terms to minority shareholders. The deal, expected to close in the second quarter pending regulatory approval, is part of Coincheck Group's strategy to expand its institutional and international operations, following recent acquisitions like Aplo SAS and Next Finance Tech Co.

3iQ, founded in 2012, offers regulated cryptocurrency exposure through traditional investment products, including early exchange-listed crypto funds, ETFs, and managed strategies primarily for institutions. This acquisition mirrors a broader industry trend where major crypto exchanges are diversifying revenue beyond trading fees by acquiring businesses in adjacent sectors, as seen with recent acquisitions by US-based exchanges like Coinbase and Kraken.

(Source：Cointelegraph)