KDDI, a leading Japanese telecommunications company, is set to acquire a 14.9 percent stake in Coincheck Group, one of Japan’s largest cryptocurrency exchange operators, in a deal valued at $65 million. Through this agreement, KDDI will receive 28.5 million new shares issued by Coincheck, each valued at $2.28. Both parties expect to finalize the transaction in June.
Strategic collaboration details
Alongside the share acquisition, Coincheck and KDDI have agreed to a commercial partnership covering customer referrals, revenue sharing, and referral fees. According to company announcements, this collaboration aims to leverage KDDI’s broad customer channels and Coincheck’s services in crypto trading, custody, staking, and asset management to make cryptocurrencies more accessible across Japan.
In recent years, KDDI has made significant investments and launched development activities in crypto assets and the Web3 space. The company introduced its αU service in 2023, rolling out a range of innovative tools such as a metaverse platform, NFT marketplace, and cryptocurrency wallet.
Expanding Web3 initiatives
KDDI has furthered its Web3 strategy by entering into a capital and business partnership with HashPort, a Japanese Web3 wallet developer. This initiative will enable users to convert their Ponta loyalty points into stablecoins and cryptocurrencies, with accumulated assets transferable to au PAY gift cards. This approach aims to integrate KDDI more deeply into the crypto ecosystem while digitizing customer loyalty programs.
As part of the latest agreement, KDDI will obtain registration rights and gain the authority to appoint an independent board member to Coincheck Group’s board of directors. This appointment is expected to take place at the general shareholders’ meeting in September.
Extensive customer base and institutional moves
As of December 2025, KDDI boasts over 72 million mobile subscribers, making it one of Japan’s most widely used telecom providers. The company is recognized for its leadership in digital transformation projects nationwide.
Coincheck Group is backed by its Dutch parent company listed on Nasdaq. In 2024, Coincheck completed its public listing via a SPAC merger, trading under the ticker CNCK. Since the IPO, Coincheck has expanded digital asset services for institutional clients and enhanced its market presence by acquiring Aplo, a digital asset prime brokerage.
For this latest investment, De Brauw Blackstone Westbroek and Simpson Thacher & Bartlett acted as legal advisers, while J.P. Morgan served as the financial adviser for both parties.
KDDI and Coincheck jointly emphasized that their alliance represents a significant step forward in popularizing cryptocurrencies in Japan. The statement highlighted Coincheck’s technological expertise and KDDI’s vast customer reach as central elements of the cooperation.
