Coincheck to acquire digital asset manager 3iQ in $112M stock deal

The transaction would give the Japanese exchange operator control of the Canadian asset manager, expanding its presence in regulated investment products.

Coincheck Group, the Nasdaq-listed holding company behind one of Japan’s largest cryptocurrency exchanges, has agreed to acquire a 97% stake in Canadian digital asset manager 3iQ from its majority owner, Monex Group.

The stock-purchase transaction values 3iQ at $111.84 million, using Coincheck Group shares priced at $4 each. Coincheck Group said it intends to offer the same terms to 3iQ’s minority shareholders, which would give it full ownership if the deal is completed. 

The deal is expected to close in the second quarter, subject to regulatory approvals and other customary conditions.

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