KDDI to take 15% stake in Coincheck with $62 million investment

Japanese telecom giant KDDI will invest 89 billion won in Coincheck, a Nasdaq-listed digital asset platform, to secure a 15% stake. The investment will be made through the purchase of 28.53 million newly issued Coincheck shares at $2.28 per share. After the deal, the two companies plan to pursue mutual customer acquisition and revenue sharing. KDDI is also expected to nominate a non-executive director at Coincheck’s September shareholders’ meeting. The transaction highlights expanding cooperation between a major telecom operator and a digital asset platform. Source: mk.co.kr