Coincheck Group N.V. (CNCK) Acquires Aplo ASAS to Target Institutional Crypto Investors

Coincheck Group N.V. (NASDAQ:CNCK) is one of the best cryptocurrency stocks to buy according to Wall Street analysts. On September 2, the company agreed to acquire Aplo SAS.

Coincheck Group N.V. (CNCK) Acquires Aplo ASAS to Target Institutional Crypto Investors

The acquisition of the digital asset prime brokerage firm marks a significant step in the company’s mission to establish a presence in the retail and institutional crypto markets. The company is exploring potential opportunities for acquisitions and strategic investments within and outside Japan.

Aplo joins Coincheck with a proprietary institutional trading application and supporting infrastructure. It also boasts of unified liquidity and a strong regulatory foundation. It has grown to support more than 60 active institutional clients, including hedge funds.

“By combining our strengths, we believe we will be better positioned to meet the needs of institutional crypto investors, which includes plans to provide a valuable B2B2C offering to banks looking to make crypto investing available to their customers,” said Gary Simanson, CEO of Coincheck Group.

Coincheck Group N.V. (NASDAQ:CNCK) is a Netherlands-based holding company with its core subsidiary, Coincheck, Inc., operating as a leading cryptocurrency exchange and marketplace in Japan. It offers services for trading digital assets, including Bitcoin and Ethereum, as well as retail crypto services such as NFTs and periodic purchases, and staking services for its customers.

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Disclosure: None. This article is originally published at Insider Monkey.