Key Takeaways:
- SEC has officially approved the request for Coincheck listing to the US Stock Market.
- If the vote scheduled on the 4th of December favors Coincheck, it will be listed on the Nasdaq by the 10th of the month.
- Coincheck’s entry into the US market will start a new era for the Japanese crypto industry.
Coincheck is all set to make history as the SEC approves its listing on the Nasdaq, an American stock exchange based in New York City. It is one of the most active stock exchanges in the US. Coincheck, a cryptocurrency exchange based in Tokyo, is expected to make its grand debut on the Nasdaq Global Market as early as the 10th of the next month. The application for this high promotion of the exchange was approved on the 13th of this month.
Coincheck Nasdaq Listing Overview
Coincheck, a cryptocurrency exchange centered in Tokyo, will become Japan’s first cryptocurrency exchange to be listed on the Nasdaq Global Market. The listing is expected to occur before the 10th of this December and the US SEC approved Coincheck’s request on November 13th. This was made possible due to the company’s partnership with Monex Group.
The listing is set to occur via a merger with Thunder Bridge Capital Partners (TBCP), marking the first Japanese exchange to be listed on the US Stock Market. The TBCP is a special acquisition purpose company (SPAC). The Coincheck will remain as a consolidated subsidiary of the Monex Group as per the merger agreement. This could lead to many other Japanese exchanges to follow in the path of Coincheck.
The SEC Approval
The F-4 registration form was filled by the Japanese exchange on the 7th of this November. It became effective on November 12. As the SEC already approved the Coincheck, TBCO can now proceed with a shareholder vote on December 5. This is to approve and finalize the business combination, which is essential for the listing to happen.
If the vote conducted is in favor of the exchange, then the merger will close and the Coincheck will officially be listed on Nasdaq Global Market as soon as December 10. The exchange will be trading under the ticker CNCK.
Importance of Nasdaq Listing
The listing of the Coincheck into the Nasdaq Global Market will be a huge milestone for both Japan and the USA. Once the merger gets finalized, it will help to improve global market integration. It may also result in inspiring many other Japanese exchanges to go after international listings and markets.
The listing offers the opportunity to attract more firms to American markets. Numerous people are expecting the introduction of crypto-friendly regimes following the victory of Donald Trump. This listing could come a long way in that matter and help in solidifying Trump’s promises during the campaign.
Challenges ahead
The Coincheck has experienced considerable delays and constant regulatory reviews. These setbacks continued throughout the years it took to secure its entry into the Nasdaq. They had to change several things even after the Monex Group stated that they would be the first to be listed on the US Exchange.
Now even with the SEC’s approval several obstacles lay in front of Coincheck. Shareholder approval, compliance with NASDAQ protocols, and ensuring the financial requirements are all necessary steps that need to be met before the Japanese exchange can begin trading on the US public exchange. The listing can have a major effect on the crypto market as well.
Final Remarks
The Coincheck’s approval to be listed on the Nasdaq Global Market depicts the beginning of a new era for various Japanese exchanges and for US companies. With the backing of Thunder Bridge IV, Coincheck is poised to grow in the highly competitive crypto market. Its listing could also pave the way for other Japanese exchanges to integrate themselves into the global markets.
But now, the main focus of Coincheck is on finalizing the merger and carefully overcoming all the hurdles in its path. As the listing date slowly comes into sight, all eyes are on Coincheck and its grand debut in the global market.
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The post Coincheck Becomes The First Japanese Exchange To Be Listed In The Global Market Following SEC Approval: Everything You Need To Know appeared first on Kallanish Energy.
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