Coincheck has agreed to acquire French digital-asset prime broker Aplo under a stock purchase deal expected to close in October. The move is part of Coincheck’s push to expand beyond Japan and build out institutional services across Europe.
Coincheck, one of Japan’s most downloaded crypto apps and a 2024 Nasdaq listing, has rebuilt after a 2018 hack and posted growth: ¥859.2 billion in customer assets and a 44% jump in trading volume in its latest annual report. The company did not disclose the purchase price.
The acquisition follows a wider wave of industry consolidation as exchanges and service providers snap up specialized firms to win institutional clients. Recent deals across derivatives, stablecoins and analytics show firms racing to broaden product suites and cross-border reach.
Aplo, launched in 2019, supplies trading infrastructure and prime brokerage services to more than 60 institutional clients. It is registered with France’s AMF and is pursuing a full license under the EU’s MiCA framework. All four Aplo founders will remain with the business after close.
Coincheck says the deal will accelerate Aplo’s roadmap—adding features like cross-margining, deferred settlement and broader liquidity access—and enable a B2B2C offering for banks wanting to offer crypto to customers. The acquisition is aimed at strengthening Coincheck’s institutional proposition in Europe.
Risks remain: the purchase still needs to close, regulatory approvals and integration challenges could change timelines or scope, and Coincheck has not disclosed financial terms.
Source: Decrypt. Read the original coverage for full details.