Coincheck to Acquire Digital Asset Manager 3iQ in USD 112m Share Deal to Boost Global Institutional Footprint
Coincheck Group N.V. (Nasdaq: CNCK) has entered into a definitive agreement to acquire Canadian alternative asset manager 3iQ in an all-stock transaction valued at approximately $111.8 million.
The deal will see the Nasdaq-listed holding company purchase a 97% controlling interest in 3iQ from its own majority shareholder, Monex Group. Under the terms of the agreement, Coincheck will issue approximately 27.1 million new ordinary shares to Monex, based on a valuation of $4.00 per Coincheck share (closing price on January 8: $2.81). The company also intends to acquire the remaining minority interest on substantially equivalent terms, targeting 100% ownership upon the transaction’s expected closing in the second quarter of 2026.
This acquisition marks a significant acceleration of Coincheck’s international expansion strategy, specifically targeting the institutional investment sector. Based in Ontario, 3iQ is recognized as a pioneer in the regulated digital asset space, having launched North America’s first major exchange-listed Bitcoin and Ether funds on the Toronto Stock Exchange.
The move follows a series of strategic consolidations for Coincheck, including the October 2025 acquisition of Paris-based crypto prime broker Aplo SAS and the March 2025 purchase of staking platform Next Finance Tech.
Gary A. Simanson, CEO of Coincheck Group, stated that the integration of 3iQ’s institutional product suite and infrastructure is expected to be accretive to earnings. "By combining our strengths, we believe we will be better positioned to meet the needs of institutional and sophisticated investors and firms," Simanson said.
Monex Group views the divestiture as a strategic reorganization. Yuko Seimi, CEO of Monex, described the transfer of 3iQ under the Coincheck umbrella as a "win-win" designed to unleash growth opportunities for the crypto-asset segment globally.
The companies identified potential synergies, including cross-offering value-added services between 3iQ and Aplo’s institutional clients, as well as leveraging Next Finance’s staking capabilities across the newly expanded group.
Oppenheimer & Co. is serving as financial advisor to Coincheck Group, with Cinaport Capital advising Monex Group. The transaction remains subject to customary closing conditions and regulatory approvals.
Norbert Gehrke
