Coincheck Group N.V. Completes Acquisition of Aplo SAS, Strengthening Institutional Crypto Offerings
Coincheck Group N.V. (Nasdaq: CNCK, “Coincheck Group”), the Netherlands-based holding company of Coincheck, Inc., one of Japan’s leading crypto asset exchanges, has announced the successful completion of its acquisition of Aplo SAS (“Aplo”), a prominent digital asset prime brokerage catering to institutional investors. The transaction marks a significant milestone in Coincheck Group’s strategy to expand its global footprint and enhance its service offerings for institutional clients.
At closing, all issued and outstanding shares of Aplo were exchanged for newly issued ordinary shares of Coincheck Group, solidifying the integration of Aplo into the broader Coincheck ecosystem. This acquisition positions Coincheck Group as a key player in the rapidly evolving institutional crypto market, combining Aplo’s expertise in serving sophisticated investors with Coincheck’s robust technological infrastructure and established reputation in the crypto space.
Aplo’s Growth and Achievements
Aplo has emerged as a leader in the digital asset prime brokerage sector, serving over 60 active institutional clients, including hedge funds, asset managers, banks, and large corporations. Its innovative solutions have earned it recognition as the “Prime Broker of the Year (EMEA)” at the 2025 Hedgeweek Global Digital Asset Awards. The company’s success is driven by its ability to provide tailored financing, liquidity, and trading infrastructure solutions that meet the unique needs of institutional investors.
All four founders of Aplo will remain with the company post-acquisition, ensuring continuity and furthering the company’s growth trajectory under Coincheck Group’s ownership. Their leadership and vision will be instrumental in driving Aplo’s expansion and integrating its capabilities with Coincheck Group’s existing offerings.
Strategic Synergies and Future Plans
The acquisition creates a powerful synergy between Coincheck Group and Aplo, enabling both companies to accelerate their product roadmaps and scale existing solutions. Key areas of focus include:
- Enhanced Financing Solutions: Aplo’s cross-margining and deferred settlement capabilities will be expanded to improve capital efficiency for institutional clients. These tools allow investors to optimize their portfolios while minimizing operational complexity.
- Expanded Liquidity Access: By leveraging Coincheck Group’s global presence and partnerships, Aplo will broaden its liquidity access and product offerings across multiple jurisdictions. This expansion will enable the company to serve new institutional partners and deepen its relationships with existing clients.
- Innovation in Trading Infrastructure: As digital asset markets continue to grow, the demand for advanced trading infrastructure is increasing. Together, Coincheck Group and Aplo will drive innovation in this area, developing cutting-edge solutions that meet the evolving needs of global markets.
- B2B2C Offerings for Banks: Aplo’s execution platform will be integrated into a B2B2C offering, allowing banks to use its technology to serve their retail and institutional customers. This initiative underscores Coincheck Group’s commitment to fostering an interconnected ecosystem where financial institutions can leverage blockchain and crypto assets to create value for their clients.
Advisory and Legal Support
Galaxy Digital Partners LLC served as the exclusive financial advisor to Aplo, providing strategic guidance throughout the acquisition process. Squair acted as legal counsel to Aplo, while De Brauw and Jeantet provided legal support to Coincheck Group, ensuring a seamless and compliant transaction.
About Coincheck Group N.V.
Coincheck Group N.V. is a NASDAQ-listed holding company headquartered in the Netherlands. Its core subsidiary, Coincheck, Inc., operates one of Japan’s most prominent crypto asset trading platforms. Over the past six years (2019–2024), Coincheck has consistently ranked No.1 in crypto trading app downloads in Japan,* reflecting its popularity and trust among users.
Through its advanced technology and robust security infrastructure, Coincheck aims to create an ecosystem where crypto assets and blockchain technologies can unlock new forms of value exchange. The acquisition of Aplo aligns with this mission, positioning Coincheck Group as a leader in both retail and institutional crypto services.
A Strategic Move for Institutional Markets
The acquisition of Aplo SAS underscores Coincheck Group’s ambition to become a dominant force in the institutional crypto market. By integrating Aplo’s specialized services with its own capabilities, Coincheck Group is well-positioned to address the growing demand for secure, efficient, and scalable solutions in the digital asset space.
For institutional investors, this partnership offers enhanced access to liquidity, improved capital efficiency, and cutting-edge trading infrastructure. For Coincheck Group, the acquisition represents an opportunity to diversify its revenue streams and expand its client base beyond retail traders to include sophisticated institutional players.
About Aplo
Founded in 2019 in Paris by Oliver Yates, Simon Douyer, Arnaud Carrere, and Jacques Lolieux, Aplo is a French Digital Asset Service Provider (DASP) registered with the AMF. The company provides institutional investors with a secure, unified trading and liquidity access platform, enabling large-scale crypto execution. Since onboarding its first client in 2021, Aplo has established itself as a trusted partner for hedge funds, asset managers, banks, and corporates.
