Crypto currency companies going public through stock listings undoubtedly have a significant impact. Coinbase is known to be one of the listed companies. Now, it seems another one will be added, this time from Japan.
Japan-Based Crypto Exchange Coincheck’s Nasdaq Move
Japan-based crypto exchange Coincheck, plans to list on Nasdaq in the second or third quarter through a merger with Thunder Bridge Capital Partners IV. Coincheck notes that the timing is subject to approval by Thunder Bridge IV’s shareholders, the SEC, and Nasdaq. The deal has been postponed twice since its announcement in March 2022.
Japan-based crypto exchange Coincheck expects to complete its Nasdaq listing in the second or third quarter through a merger with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV (THCP).
The Merger Had Been Postponed Twice Before
The merger, announced over two years ago in March 2022, was initially expected to be completed in the second half of that year. However, that target was not met, and a new date was set. The goal was still not achieved by the newly set date of July 2023.
When the merger is completed, the company will be renamed Coincheck Group and will be listed on the Nasdaq Global Select Market under the ticker “CNCK”. If this listing occurs, it will join Coinbase (COIN), currently the only listed crypto exchange in the U.S.
Why is the Public Listing of Crypto Exchanges Important?
The public listing of crypto exchanges can be considered in terms of capital raising. Accordingly, the money raised by selling company shares can be used for the development of crypto companies. On the other hand, if the crypto exchange has proven its mettle in the field, this can also be profitable for investors in the company.
It should not be forgotten that during periods when crypto currencies exhibit upward-focused movements, the values of crypto-focused companies also increase. Especially for those who do not want to invest in crypto currencies but want to invest in stock shares, these companies can be considered a different door.
