Coincheck Group to buy Canadian manager 3iQ for $111.84M in stock deal

Coincheck Group, the Nasdaq-listed holding company behind one of Japan’s largest cryptocurrency exchanges, has agreed to acquire a 97% stake in Canadian digital asset manager 3iQ from its majority owner, Monex Group.

The stock-purchase transaction values 3iQ at $111.84 million, using Coincheck Group shares priced at $4 each. Coincheck said it intends to offer the same terms to 3iQ’s minority shareholders, which would give it full ownership if the deal is completed.

Founded in 2012, 3iQ provides regulated cryptocurrency exposure through traditional investment products and expanded into staking-based ETFs and managed crypto strategies for institutional investors. Coincheck, launched in 2014, offers regulated retail trading and custody services and in December 2024 became the first Japanese cryptocurrency exchange to list on Nasdaq. The company said the 3iQ deal follows recent purchases including Paris-based prime broker Aplo SAS in October and staking services provider Next Finance Tech Co. in March as it builds institutional and international operations.

The deal is expected to close in the second quarter, subject to regulatory approvals and other customary conditions. The announcement framed the acquisition as part of a broader industry push by exchanges to diversify revenue, citing multiple recent deals by US exchanges such as Coinbase and Kraken.

Key Topics

Crypto, Coincheck Group, Monex Group, Nasdaq, Canada, Staking Etfs