In a groundbreaking move, Coincheck, a Japanese cryptocurrency exchange owned by Monex Group, has received SEC approval to list on the Nasdaqmaking it the first Japanese crypto exchange to do so. Coincheck is expected to debut as early as December 10.
Through a merger with Thunder Bridge Capital Partners IV (TBCP), a special purpose acquisition company (SPAC), Coincheck will list on the Nasdaq under the ticker symbol CNCK, with trading expected to begin on December 11.
The application for a listing on the Nasdaq was approved by the US SEC on November 13. Following SEC approval, TBCP may proceed with the listing by holding a shareholder vote to approve and close the business combination on December 5.
Coincheck has filed several forms with the SEC as part of this listing process. Now that the SEC has approved Registration Form F-4, THCP will send final voting materials to its shareholders, who will then vote on the merger.
The SEC approval and subsequent listing will be an important step toward greater market integration between the US and Japan in the cryptocurrency sector. Coincheck’s approval from the SEC to list on the Nasdaq shows how the U.S. regulatory system for crypto assets is transforming.
With this listing, Nasdaq set a precedent for Japanese crypto companies and others looking to expand into the US markets. The listing could prompt similar actions by other exchanges that may seek to leverage U.S. capital markets. With the Trump administration expected to take a pro-crypto stance, this listing could attract more foreign crypto companies to join the US market.