Coincheck Group N.V. plans to acquire about 97% of Canadian digital asset manager 3iQ Corp. for roughly $111.8 million, settled through new Coincheck ordinary shares valued at $4 each.

The deal is structured as a stock purchase and is slated to close in the second quarter of 2026, subject to customary regulatory approvals and due diligence.

The transaction values 3iQ at $111.84 million and leverages Coincheck shares for the purchase, with closing contingent on regulatory clearances and standard conditions.

Strategic implications include looser competition in institutional crypto services, potential consolidation acceleration, and opportunities for cross-border product development and enhanced regulatory technology.

This acquisition would grant Coincheck access to regulated institutional crypto investment products and infrastructure across Canada and North America, speeding market presence.

The deal fits a broader trend of crypto exchanges diversifying revenue beyond trading fees by expanding into adjacent businesses, aligning with 2025 acquisitions by major exchanges.

By integrating 3iQ’s funds, including BTC and ETH offerings, the deal strengthens Coincheck’s institutional reach and enables expanded product access through its subsidiaries.

Monex Group’s leadership views the reorganization as boosting growth opportunities and international success for both crypto-asset and wealth-management businesses.

The transaction aims to spread public company costs over a diversified revenue base while leveraging 3iQ’s established North American presence for institutional clients.

3iQ, Canada’s first regulated digital asset investment fund manager, has a notable history with early North American listed Bitcoin and Ether funds and staking ETFs, underscoring its track record.

3iQ brings a decade of experience and industry accolades in digital asset management, including recognition as a leading ETF issuer and innovator in 2025.

Founded in 2012, 3iQ provides regulated crypto exposure through traditional investment products and has expanded into staking ETFs and institutional-focused strategies.