Coincheck Group, the parent company of the Japanese cryptocurrency exchange Coincheck, has successfully listed on the US stock exchange Nasdaq, becoming the second cryptocurrency exchange to do so. Market expectations are that the long-standing IPO restrictions on the cryptocurrency industry will be lifted in the near future.
Japanese online brokerage firm Monex Group announced today (11th) that its subsidiary, Coincheck Group (CCG), has successfully listed on Nasdaq in the United States and started trading on the 11th in Eastern Standard Time. The stock code is “CNCK”.
According to CoinDesk, CCG is the holding company of the Japanese cryptocurrency exchange Coincheck. After its listing, Monex Group will hold 80% of CCG’s shares, and the current market value of CCG is approximately $1.6 billion.
This listing on Nasdaq makes Coincheck Group the second cryptocurrency exchange to be listed on the US stock market (Coinbase being the first).
Will more cryptocurrency companies go public on the US stock market?
In addition, in the past, the cryptocurrency field has been limited by incomplete regulations and strict policies of the SEC, resulting in many cryptocurrency companies being unable to successfully apply for IPO listing. However, with the Trump administration coming into power, the market expects the IPO restrictions on cryptocurrency companies to be completely lifted.
IPO refers to the first issuance of company stocks through a securities exchange and the sale of stocks to general investors. The IPO process transforms a private company into a publicly traded company.
ARK Invest also stated in an article released in mid-November that the United States is expected to reopen the IPO window for mature digital asset companies such as Circle and Kraken:
As the price of Bitcoin soars to new historic highs, the new administration seems ready to bring much-needed clarity to the regulation of digital assets in the United States. Possible changes include a more friendly Securities and Exchange Commission (SEC), ending Chairman Gary Gensler’s “enforcement-style regulation,” reopening the IPO window for mature digital asset companies such as Circle and Kraken, and pushing for long-awaited and much-needed digital asset legislation.
Potential list of cryptocurrency company IPOs
On the other hand, according to previous reports from CoinDesk, despite the suppression by the SEC in the cryptocurrency field in recent years, many companies are planning IPO listings, including:
Cryptocurrency exchange Kraken
Blockchain technology provider Chia Network
Stablecoin USDC issuer Circle
Trading platform eToro
Although the current SEC, led by Gary Gensler, and conservative factions in the Biden administration still hold control, the listing of Coincheck Group on Nasdaq indicates that a wave of cryptocurrency company IPOs may be imminent.