Key Points
- Today, the US SEC approved Coincheck for NASDAQ listing next month.
- The move is set to occur via a merger with Thunder Bridge Capital Partners.
The US SEC has approved Coincheck, a crypto exchange with Tokyo headquarters, to be listed on NASDAQ next month.
The move is important as it highlights the continuously rising interest in crypto and places the exchange on the right path to make history. This will be the first time when a Japanese crypto exchange is listed on a US stock market.
Coincheck, Expected to Make Its NASDAQ Debut in December
Coincheck, a subsidiary of Monex Group, a financial services company, including IEO, NFT businesses, and crypto trading services, is expected to make its debut on NASDAQ as early as December 10, according to the latest reports.
The move will take place via a merger with Thunder Bridge Capital Partners (TBCP), a blank check company that aims to acquire businesses and assets via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization.
This merger with TBCP will enable Coincheck to remain a consolidated subsidiary of Monex Group, following the NASDAQ listing.
Today’s SEC’s approval comes following a filing sent by the crypto exchange of a Form F-4 registration statement on November 7. The filing became effective yesterday, November 12, according to official data.
The notes highlight that the general meeting of shareholders will take place on December 5 and the closing date is estimated around December 10.
Following the SEC approval, TBCP gets the green light to hold a shareholder vote to approve and finalize the business merger, which is a necessary step for the NASDAQ listing to proceed.
If the shareholders’ vote is in favor, the merger will close and Coincheck will officially be set for listing on the American stock market.
Japan’s Global Market Intergation
If the merger is finalized and the listing on NASDAQ takes place, the move will be important for both Japan and the US.
This will send the Japanese exchange deeper into the global market integration, and could potentially inspire other companies in Japan to take the same steps to achieve successful results in international markets.
Also, this listing could set a successful precedent and attract more international crypto firms from outside Japan to pursue the same journey with the American market.
The US Promises A Friendlier Crypto Regulatory Framework
The US seems to be embracing the crypto industry even more, now that the newly elected President, Donald Trump, is set to take control of the country.
His Presidential Inauguration is scheduled for January 20, and the crypto markets have already started to price in his success during the past few days, with Bitcoin’s price racing to new ATHs.
Trump made important promises for the crypto industry, including setting up a strategic Bitcoin Reserve, potentially inspiring other countries to make the same move.
