19 hours ago
2075
Coincheck Group has acquired 97% of 3iQ for 27.1 million of its ordinary shares at a $111.8 million valuation. An additional exchange of 810,435 of its shares would earn the company total ownership.
Coincheck Group, one of Japan’s largest cryptocurrency exchanges, has announced its acquisition of 3iQ Corp., a pioneering Canadian digital asset manager. The deal is structured as a stock exchange with Coincheck’s majority shareholder, Monex Group, and values 3iQ at approximately $111.8 million.
Coincheck Group acquires 3iQ
Monex Group agreed to exchange its 97% stake in 3iQ for 27.1 million newly issued Coincheck ordinary shares, which are valued at $4 each. Coincheck could offer similar terms and 810,435 additional shares to 3iQ’s minority shareholders and achieve 100% ownership.
The transaction is expected to close during the second quarter of 2026.
3iQ was founded in 2012 and became Canada’s first regulated Digital Asset Investment Fund Manager in 2017. Its most notable achievements include launching what it promotes as North America’s first major exchange-listed Bitcoin and Ether funds on the Toronto Stock Exchange in 2020.
More recently, the company introduced its Ethereum staking ETF in 2023. In 2025, 3iQ expanded its offerings with one of the first Solana staking ETFs and a spot-based XRP ETF.
Coincheck is on an expansion streak
This deal follows Coincheck’s acquisition of Aplo SAS, a Paris-based registered crypto prime brokerage serving institutional investors, in October 2025. In March earlier the same year, Coincheck purchased Next Finance Tech Co., a staking platform services company.
Coincheck’s plans include 3iQ and Aplo potentially cross-selling services to their respective institutional client bases, and Next Finance providing staking infrastructure for the project.
Monex Group’s CEO Yuko Seimi said the reorganization will provide “increased opportunities for growth and success internationally” in both crypto-asset and asset and wealth management businesses, calling it a win-win for shareholders of both companies.
The transaction helps Coincheck spread public company costs over a larger and more diversified revenue base. 3iQ’s established presence in Canadian and North American markets means that Coincheck gains immediate access to regulated institutional crypto investment products and infrastructure that would have taken years to build independently.
Oppenheimer & Co. advised Coincheck Group on the transaction, and the company received legal counsel from De Brauw Blackstone Westbroek, Simpson Thacher & Bartlett, and Stikeman Elliott. Monex was advised by Cinaport Capital and Wildeboer Dellelce.
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