Coincheck will join Coin as the only publicly traded cryptocurrency exchanges in the United States. The Japanese company signed a merger agreement to go public.
Coincheck, based in Tokyo, signed a SPAC merger agreement to go public.
After SEC approval, it is ready to list its shares on the Nasdaq stock exchange.
It will follow Coin, which until now is the only one with public company status in the U.S.
Coincheck, a Japanese digital asset trading platform, is about to make history by becoming the second cryptocurrency exchange to list its shares on the American stock exchange.
In a press release today, Coincheck, based in Tokyo, announced that the U.S. Securities and Exchange Commission (SEC) had approved its application for the launch of the company's shares on Nasdaq.
The move will occur through a merger agreement with the special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV. The combined company will be called Coincheck Group and is expected to appear on Nasdaq under the new ticker symbol “CNCK,” as indicated in the statement.
The SEC's approval follows a filing of Form F-4 in early November, which went into effect on November 12, the company added, which had previously hinted at its plans to go public.
The merger agreement was announced more than two years ago, in March 2022, with initial plans to complete it in the second half of that year, as CoinDesk recalled. The goal then was to go public in July 2023.
The second to become a public company
So far, Coin is crowned as the first and only cryptocurrency exchange listed on the stock exchange in the United States. Based in California, Coin became a public company in 2021 after a direct listing of shares on Nasdaq.$BTC
