Coincheck is expanding into the European Economic Area by acquiring Paris-based institutional crypto brokerage Aplo, with the deal expected to close in October.
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Major Japanese crypto exchange Coincheck is expanding into the European Economic Area (EEA) by acquiring Paris-based Aplo, a regulated digital asset brokerage for institutional investors.
According to a Tuesday , Coincheck entered a stock purchase agreement to acquire Aplo. As part of the deal, all issued and outstanding shares of Aplo are to be exchanged for newly issued ordinary shares of Coincheck. The acquisition is expected to close in October.
The exchange said the acquisition is “the first step of an important component of Coincheck Group’s stated mission” of making “acquisitions for retail and institutional crypto businesses outside of .”
The company is exploring other potential acquisitions inside and outside its home market to acquire “complementary companies or specialized knowledge, expertise, products, services, licenses, or technologies,” as part of this strategy.
Aplo provides institutional users with a trading application and supporting infrastructure. It is currently registered as a digital asset service provider with the French Authority for the Financial Markets (AMF) and is working toward obtaining a full license.
Aplo’s role in Coincheck
According to the announcement, Aplo serves more than 60 active institutional clients, including hedge funds, banks, asset managers and other businesses. As part of Coincheck, it will offer financing solutions including cross-margining and deferred settlement, and expand its liquidity and product offerings in multiple jurisdictions.
Coincheck also plans to explore whether Aplo could provide significant additional liquidity to its trading platform. Gary Simanson, CEO of Coincheck Group, said the acquisition gives his company access to technology and expertise recognized by European institutional customers and added:
“By combining our strengths, we believe we will be better positioned to meet the needs of institutional crypto investors, which includes plans to provide a valuable offering to banks looking to make crypto investing available to their customers.”
Monex Group is on a path of aggressive expansion
The announcement follows recent reports that the Tokyo-based, publicly traded financial services company and Coincheck owner, . Monex Group Chairman Oki Matsumoto said, “Issuing stablecoins requires significant infrastructure and capital, but if we don’t handle them, we’ll be left behind.”
Coincheck is also seeing significant growth, with in its fiscal third quarter, which the CEO of its parent company attributed to a successful merger and subsequent listing on the Nasdaq. Coincheck Group, the parent company of Japanese Coincheck, , 2024.
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