Coincheck Group Eyes Japan’s Institutional Crypto Boom With New Infrastructure Push

Coincheck Group NASDAQ: CNCK is positioning its business around institutional crypto infrastructure, execution and asset management as regulatory developments in Japan and other markets broaden access to digital assets, Chief Executive Officer Pascal St-Jean said during a KeyBanc discussion.

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St-Jean, who became CEO in April after joining the group through its acquisition of 3iQ, said the company’s long-standing mission has been to expand access to crypto. While that initially focused on retail users through regulated exchanges and exchange-traded products, he said the next phase involves reaching end users through institutional partners including banks, asset managers, exchanges and wealth managers.

“The customers have shifted, but the end user sometimes is still retail,” St-Jean said. “We are just going through institutional channels.”

Legacy operations and institutional expansion

The company’s two core legacy operations are its Japanese exchange business and 3iQ’s asset-management operation. St-Jean said 3iQ is the leading crypto asset manager in Canada, while Coincheck’s exchange has consistently ranked among the top three in Japan.

Coincheck Group is licensed or has capabilities in eight jurisdictions, according to St-Jean. He said the company is targeting institutions seeking crypto exposure or seeking to provide crypto products to their customers. Those customers can include banks, sovereign funds, telecommunications companies and other financial-services providers.