Crypto exchange Coincheck to acquire digital asset manager 3iQ
Canadian digital asset manager 3iQ is set to be bought by a Japanese crypto exchange Coincheck.
Ontario-based 3iQ, which in 2017 became the first regulated digital asset manager in Canada and in 2020 launched one of North America’s first exchange-traded bitcoin and ether funds, has entered into a stuck purchase agreement between its own parent company , Monex, and Netherlands-based Coincheck Group, holding company for Coincheck.
Under the terms of the agreement, Coincheck will acquire approximately 97% beneficial ownership of 3iQ in a deal that values the digital asset manager at $118m.
3iQ was founded in 2012 and in 2024, Japanese fintech Monex acquired a majority stake for approximately $46 million.
The deal is yet another purchase for Coincheck which has been on an acquisition spree of late. In March last year it bought tokenisation vendor Next Finance Tech and in October it acquired Paris-based Aplo, a crypto prime brokerage for institutional investors.
