Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 66

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 66
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mated. On December 11, 2024, as contemplated by the Business Combination Agreement, our

Ordinary Shares and Public Warrants commenced trading on Nasdaq under the symbols “ CNCK” and “ CNCKW,”

respectively. As of the date of this report, the Company’s corporate organizational structure is as follows: (1)

Coincheck Parent is the publicly traded holding company; (2) Coincheck is Coincheck Parent’s principal operating

subsidiary; (3) Next Finance, a small private Japanese company engaged in a crypto staking platform service

business, acquired by Coincheck Parent in March 2025, is Coincheck Parent’s other operating subsidiary; and (4)

CCG Administrative Services, Inc., a Delaware corporation, provides certain administrative services to Coincheck

Parent. Following the Business Combination, M1 Co was a direct, wholly owned subsidiary of Coincheck Parent

and the sole shareholder of Coincheck, but, on June 20, 2025, was merged into Coincheck, resulting in Coincheck

Parent becoming the sole shareholder of Coincheck.

B. Business Overview

Our Mission

We believe we are, today, a leader in the Japanese retail crypto asset industry through our Marketplace

platform offering and related retail crypto services. Our mission is threefold: (1) to increase our share of the

growing Japanese crypto asset retail market through our Marketplace platform, including by adding or enhancing

new or recent features and related services attractive to our customers; (2) to expand our institutional business, such

as through the recent launch of the Coincheck Prime brand and our Coincheck IEO platform; and (3) mainly through

acquisitions, investments, or joint ventures or other strategic partnerships, to acquire and operate retail and

institutional crypto businesses outside of Japan, such as in Europe and other regions.

Overview

Since the launch of our crypto asset exchange in 2014, we have provided a young, highly-engaged retail

customer base with the opportunity to become familiar with crypto assets by offering a service we believe is easy for

anyone to use, regardless of financial or technological literacy. We operate, through our platforms, one of the largest

multi-cryptocurrency marketplaces in Japan. We had as of March 31, 2025, according to the JVCEA, a 24.9%

market share in Japan by trading volume, and our approximately 2.3 million verified users represent an 18.5% retail