Telecom giant KDDI to acquire 14.9% stake in Coincheck Group in $65 million deal
KDDI will acquire a 14.9% stake in Coincheck Group for $65 million to expand cryptocurrency access in Japan.Summary
Japanese telecom giant KDDI has agreed to a $65 million deal to acquire a 14.9% stake in Coincheck Group by subscribing to 28.5 million newly issued shares at $2.28 each. The transaction is expected to close in June, granting KDDI the right to nominate one non-executive director to Coincheck Group's board.
Beyond the equity investment, the two companies have entered into a business alliance focusing on revenue sharing, referral fees, and customer referrals. This partnership aims to leverage KDDI's extensive consumer channels—boasting over 72 million mobile subscriptions—and Coincheck's trading, custody, staking, and asset-management services to broaden crypto adoption in Japan. This move aligns with KDDI's ongoing strategy to integrate Web3 and crypto services, following previous initiatives such as the "αU" metaverse service and a partnership with HashPort.
(Source：CoinDesk)