Coincheck acquires French crypto company for European expansion
Coincheck is expanding into the European Economic Area by acquiring Paris-based institutional crypto brokerage Aplo, with the deal expected to close in October.
Major Japanese crypto exchange Coincheck is expanding into the European Economic Area (EEA) by acquiring Paris-based Aplo, a regulated digital asset brokerage for institutional investors.
According to a Tuesday announcement, Coincheck entered a stock purchase agreement to acquire Aplo. As part of the deal, all issued and outstanding shares of Aplo are to be exchanged for newly issued ordinary shares of Coincheck. The acquisition is expected to close in October.
The exchange said the acquisition is “the first step of an important component of Coincheck Group’s stated mission” of making “acquisitions for retail and institutional crypto businesses outside of Japan.”