Nasdaq-listed Coincheck Group announced Thursday it will acquire 97% of Canadian digital asset manager 3iQ Corp. for $111.8 million.
The deal marks Japan's leading crypto exchange's third strategic acquisition in 12 months.
Transaction expected to close Q2 2026, pending regulatory approval.
What Happened
Coincheck will issue 27,149,684 new ordinary shares valued at $4.00 each to acquire the 97% stake from majority shareholder Monex Group.
The agreement includes provisions to offer equivalent terms to minority shareholders, potentially issuing up to 810,435 additional shares for 100% ownership.
3iQ became Canada's first regulated digital asset investment fund manager in 2017.
The firm launched North America's first Bitcoin (BTC) and Ethereum (ETH) ETFs on the Toronto Stock Exchange in 2020.
Last year, 3iQ introduced Solana (SOL) staking and spot XRP ETFs.
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Why It Matters
The acquisition provides Coincheck with 3iQ's 12-year operational history and institutional product suite.
"By combining our strengths, we believe we will be better positioned to meet the needs of institutional and sophisticated investors," said Gary Simanson, Coincheck Group CEO.
This represents Coincheck's third purchase in 12 months following Aplo SAS acquisition in October 2025 and Next Finance Tech in March 2025.
Coincheck plans revenue synergies with 3iQ and Aplo offering services to institutional clients.
The deal expected to be earnings accretive.
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