A Japanese-based cryptocurrency firm, Coincheck, has successfully secured a spot on the Nasdaq global market following the US SEC's approval. The Japanese company press release disclosed that Coincheck met all the criteria required for admittance into the US stock exchange. Noteworthily, Coincheck's new feat implies it will become the pioneer Japanese project to appear on the Nasdaq.
This approval came a few years after Coincheck established a regional branch. SEC took ample time to scrutinize the exchange and its services to avoid predisposing the indigenes to risky adventures.
Events Surrounding Coincheck SEC's Approval
After satisfying the guidelines drafted by the regulatory framework on cryptocurrency matters, the SEC approved the exchange's operations without restrictions.
Before Nasdaq's listing, Coincheck completed its F-4 registration and other necessary pre-listing rites ahead of the official listing event slated for December 10. Notably, the exchange submitted the form on November 5, and it became effective on November 12. However, before the trading platform's complete recognition in the global market, it has to be integrated with Thunder Bridge Capital Partners (TBCP).
Thunder Bridge Capital Partners is a group of companies that offers a competitive advantage to selected crypto firms to boost their presence in the digital market. This integration would aid Coincheck in maintaining a relevant membership with the Monex companies even after the listing exercise.
It is pertinent to state that the merging of Coincheck with TBCP depended on the outcome of an in-house collaborative decision on December 5. Under favorable agreements, Coincheck will move on to the final stage of the listing process. Contrary decisions imply that Coincheck would remain irrelevant in the global market.
Coincheck Making New Waves In The Digital Market.
The listing of Coincheck on the Nasdaq global market would significantly affect the United States financial system and Japan's economy. The listing event would lead to a greater adoption rate, driving top investors to open business enterprises in the US stock exchange.
Being the first crypto firm from Japan with full recognition in the Nasdaq stock market will serve as a standard for other Japanese-based projects, eventually leading to the expansion of the digital ecosystem in the region.
