Mentioned:
A digital asset company on the Nasdaq has just landed a new major investor. And they’re one of the largest telecommunications companies in Japan.
What’s happening:
- Japenese telecommunications giant KDDI Corporation has made a strategic investment of roughly $65M USD into Coincheck Group (NASDAQ: CNCK)
By the numbers:
- KDDI Corporation will purchase shares of Coincheck Group at $2.28 USD per share and own an equity stake of approximately 14.%
Why it matters:
- KDDI Corporation is one of the single largest telecommunications brands in Japan and operates multiple popular brands within mobile connectivity and internet services
Going deeper:
- Coincheck Group and KDDI Corporation have both publicly stated that they have formed a new partnership as part of KDDI Corporation’s strategic investment in which they will collaborate to expand access to digital assets within Japan and develop revenue sharing agreements
- Coincheck Group initially launched their crypto exchange in Japan and currently is one of the single largest platforms for digital asset trading within Japan
