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Japanese crypto exchange Coincheck has announced it intends to list on US tech exchange Nasdaq in Q2 through a $1.25 billion SPAC deal with Thunder Bridge Capital Partners IV (THCP).

Per the press release, the deal is expected to close in Q2.

After the SPAC is completed, the company shares will trade under the ticker CNCK.

The combined company will be valued at $1.25 billion. The main shareholder of Coincheck, Monex Group, will have a share of 82%. THCP will provide $237 million in cash.

The platform, which is regulated by the FSA, serves 1.5 million verified clients, offering the largest number of crypto assets and IEO opportunities among Japanese exchanges.

Coincheck suffered 4 years ago one of the biggest hacks in the history of cryptocurrencies.

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