Japan’s listed cryptocurrency companies are increasingly buying global growth and grabbing a share of institutional demand for regulated digital asset exposure ahead of the country’s cautious pivot to boost activity in the sector.
Japan’s Coincheck Exchange Goes Shopping Abroad to Spur Growth
9 January 2026 - 10:38 CET
By Sandmark staff
The Nasdaq-listed parent of leading Japanese crypto exchange Coincheck, Coincheck Group N.V. (CNCK), has agreed a deal for approximately 97% of Canada’s 3iQ from Monex Group Inc., according to an announcement.
The purchase of the digital asset manager is valued at $111.8mn in a stock swap involving Coincheck Group shares valued at $4 a piece.
The deal also includes all issued and outstanding shares beneficially owned by Monex in 3iQ’s holding company. The exchange involves 27,149,684 newly issued ordinary shares of Coincheck Group.
The acquisition of 3iQ will allow Coincheck “to meet the needs of institutional and sophisticated investors and firms, including traditional financial institutions now seeking to include digital assets in their portfolio offerings to their customers,” said Gary A Simanson, the firm's CEO and Executive Director.
Closing of the transaction is expected during the second quarter of 2026, and is subject to customary undertakings and certain conditions, including regulatory approvals and confirmatory due diligence.
Founded in 2012, 3iQ launched North America's first major exchange-listed Bitcoin and Ether Funds on the Toronto Stock Exchange in 2020.
Crypto repositioning
Japan is embarking on an overhaul of its regulatory framework for digital assets in 2026, after being one of the earliest markets in Asia-Pacific to roll out the welcome mat for crypto.
The country has lagged other jurisdictions, including Hong Kong and Singapore, in driving further adoption, as it has focused more on consumer protection after the Mt. Gox and other exchange hacks.
Finance Minister Satsuki Katayama has labeled 2026 as Japan’s "Digital Year Zero," signalling a strategic shift that puts crypto as a critical tool to modernize capital markets and unlock dormant household savings. Among the reforms that Tokyo has proposed are tax cuts for crypto gains and the reclassification of crypto as financial products.
Global foothold
For some local players, the pace may be too slow as competition heats up to own businesses that can offer new revenue streams and a foothold in more mature markets.
The 3iQ deal comes after Coincheck Group’s acquisition of Paris-based Aplo SAS, a registered crypto prime brokerage for institutional investors, in October 2025.
In March 2025, Coincheck snapped up Next Finance Tech Co., Ltd, a staking platform services company serving retail and corporate clients.
