As the year 2021 turned into a blossoming year for the entire crypto sector, many crypto firms sought mainstream attention. They wanted to bring the crypto sector to mainstream platforms.
To achieve this, multiple cryptocurrency exchanges and different crypto-related firms came up with different plans and strategies.
However, Coinbase went with a different, or to be honest, rather daring approach. It reportedly made a public debut back in April of 2021.
The exchange got itself listed in the public markets and since then, it has been operating as a publicly-listed entity.
The exchange has set an example by making a public debut and has given confidence to other exchanges to make the same move.
Coincheck Wants to Go Public
Coincheck, a cryptocurrency exchange based in Japan has recently shared plans of making a public debut. Just like Coinbase, the exchange wants to go public launching its shares in the stock market.
The Japanese cryptocurrency exchange wants to launch its stocks in the United States stock exchange market. As confirmed by the officials, their aim is to launch the exchange in the NASDAQ stock exchange.
The exchange aims to gain access to the lucrative capital markets by making a public debut, especially through the US stock exchange market.
US SEC to Review the Application
The sources have confirmed that the exchange has already submitted an application to the US SEC for approval. The request was reportedly filed by the Coincheck exchange’s executives to the SEC on Oct. 28.
The information was also confirmed by the Monex Group, which is the majority owner of the exchange. The group confirmed that the exchange is planning to make a NASDAQ debut.
They are going through all the customs and procedures to ensure that the listing process is smooth.
Coincheck to Tap a SPAC
In the filing at the US SEC, the exchange has revealed that they are not going to go with the SPAC public debut. This means they will merge with a special purpose acquisition company (SPAC) to make its debut.
They have already formed a deal with Thunder Bridge Capital Partners IV, which is to be their SPAC. The exchange has mentioned in the filing that it wants to make a debut in the third quarter of 2023.
As communicated by the Coincheck officials in the filing, they plan to make a public appearance on July 2, 2023. That would be possible if everything goes according to plan.
The Bigger Picture
The Coincheck executives are looking at a bigger picture as the exchange makes a public debut. They want the exchange to expand and have access to mainstream markets and clients.
The exchange wants to build strong connections with mainstream institutions and corporations. The ultimate goal is to introduce useful and profitable products to mainstream investors.
If the exchange is able to achieve that, then things could go in a smooth direction for the entire crypto sector.