Market News

Japan's Coincheck Boosts Corporate Interest with Crypto Custody and Trading Enhancements

Coincheck, a leading NASDAQ-listed Japanese crypto exchange, recently introduced Coincheck Prime, a cryptoasset custody service designed for corporate and institutional investors. This service targets entities with deposit balances of 10 million yen ($66,763) or higher and includes support for substantial one-off or continuous crypto investments. Coincheck Prime not only facilitates large over-the-counter (OTC) trades at favorable rates but also ensures robust security for the cryptoassets under its custody. The launch reflects a growing trend in Japan where corporations increasingly engage with cryptocurrencies as a hedge against fiat inflation and a means to raise funds. Coincheck's backing by Monex Group, a major player on Tokyo's Prime Market, and its claim of stringent internal controls and transparency, bolster its credibility. Additionally, Coincheck leads Japan's Bitcoin spot trading market, managing assets totaling over 1.29 trillion yen ($8.6 billion). The company's strategic offerings aim to leverage its NASDAQ presence to attract more institutional clients, potentially expanding services if crypto spot ETFs gain government approval.