Coincheck, acquired by Monex Group, is stepping beyond its home market in Japan
with a deal that could reshape its global footprint. The crypto exchange’s holding company, Coincheck Group
N.V., has signed an agreement to acquire Paris-based Aplo SAS, a digital asset
prime brokerage serving institutional clients.
Expanding Into Europe
According to the company, the transaction, set to close in October 2025, will
see Aplo shareholders exchange their stakes for newly issued Coincheck Group
shares. The deal marks Coincheck’s first acquisition outside Japan and reflects
its broader strategy of building both retail and institutional businesses
across global markets.
Coincheck Group to acquire Aplo. Under the agreement, all issued and remaining shares of Aplo are to be traded for newly issued ordinary shares of Coincheck Group https://t.co/lloNRqfucn #fundadmin #Custody pic.twitter.com/wKpVd50B6d
— Asset Servicing Times (@ASTimes_) September 2, 2025
“Aplo brings us proven technology, expertise
recognized by institutional clients in Europe, and a high-performance team with
an entrepreneurial culture,” said Gary Simanson, CEO of Coincheck Group.
Founded in 2019, Aplo is a digital asset trading infrastructure. The company serves more than 60
active institutional clients, including hedge funds, banks, and asset managers.
Its platform combines algorithmic execution with access to deep liquidity.
Aplo’s Institutional Footprint
Both companies plan to expand Aplo’s product offering
and scale its platform globally. Areas of focus include financing solutions such as
cross-margining, broader liquidity access, and new B2B2C services for banks
interested in offering crypto products to customers.
The firms will also examine whether Aplo can
contribute liquidity to some of Coincheck’s altcoin markets. All four of Aplo’s
founders will remain with the company after the acquisition closes.
Related: Monex Group Weighs Yen-Backed Stablecoin, Plans European Crypto Acquisition
Monex Group recently hinted at the acquisition while
confirming it is weighing plans to issue a yen-pegged stablecoin. Chairman Oki
Matsumoto said in a TV Tokyo interview that the group is in final talks to
acquire a European crypto-related company and stressed that moving into
stablecoins is essential to stay competitive.
Yen-Pegged Digital Currency
Matsumoto said Monex is considering a stablecoin backed by
Japanese government bonds and redeemable one-to-one with the yen. Potential
applications include international remittances and corporate settlements. The
group expects to leverage its crypto exchange Coincheck and Monex Securities
brokerage to support the project.
“Issuing a stablecoin requires significant scheming and
capital, but if we don’t handle it, we won’t be able to keep up with the
times,” Matsumoto said.
Monex acquired Coincheck in 2018 in a deal valued at ¥360
million ($33.5 million). The group said the takeover underscored the growing
importance of blockchain technology and cryptocurrencies in the financial
sector.
This article was written by Jared Kirui at www.financemagnates.com.
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