Coincheck signs $112 million stock purchase agreement for majority stake in digital asset manager 3iQ

Coincheck Group N.V. (NASDAQ: CNCK) announced Thursday that it has entered a stock purchase agreement to acquire approximately 97% of Canadian digital asset manager 3iQ Corp. The transaction values 3iQ at around $111.8 million and will be settled through the issuance of 27,149,684 new Coincheck Group ordinary shares, according to the statement.

Coincheck is a Netherlands-based holding company listed on Nasdaq. Its core subsidiary operates the Coincheck exchange, one of Japan’s leading crypto trading platforms.

Gary Simanson, CEO and Executive Director of Coincheck Group, said the company expects 3iQ to contribute institutional-grade product offerings, infrastructure, and expertise to its platform.

“By combining our strengths, we believe we will be better positioned to meet the needs of institutional and sophisticated investors and firms, including traditional financial institutions now seeking to include digital assets in their portfolio offerings to their customers,” Simanson said. He added that the acquisition is expected to be accretive to Coincheck’s earnings.

Per the statement, closing of the transaction is subject to regulatory approvals and confirmatory due diligence and is expected during the second quarter of 2026. The agreement contemplates that Coincheck will offer equivalent terms to 3iQ’s minority shareholders, which could involve issuing up to an additional 810,435 ordinary shares to secure 100% ownership of the asset manager.

Strategic expansion through acquisitions

The acquisition provides Coincheck with 3iQ’s 12-year operational history and product pipeline. According to the statement, 3iQ became Canada’s first regulated digital asset investment fund manager in 2017. It launched North America’s first major exchange-listed Bitcoin and Ether funds on the Toronto Stock Exchange in 2020 and introduced Solana staking and spot-based XRP ETFs last year.

The 3iQ deal is Coincheck’s third strategic purchase in 12 months. The group acquired Paris-based institutional prime brokerage Aplo SAS in October 2025 and staking platform services company Next Finance Tech Co., Ltd. in March 2025, according to the release.

Coincheck stated it will explore revenue synergies between the three entities. The plan includes 3iQ and Aplo offering cross-services to their respective institutional clients. Next Finance would provide staking services to 3iQ, Aplo, and the core Coincheck exchange.