Coincheck acquires French cryptocurrency company Aplo to expand into Europe

Coincheck, a major Japanese cryptocurrency exchange, has opened a virtual exchange for institutional investors based in Paris, France, to expand its business into the European Economic Area (EEA).
Coincheck will acquire cryptocurrency broker Aplo. The transaction is expected to close in October. According to Cointelegraph, Coincheck announced on the 3rd that it has signed a stock purchase agreement with Aplo.
As part of this agreement, all of Aplo's issued shares will be exchanged for new common stocks of Coincheck, and the acquisition is expected to be finalized in October.
Coincheck explained the acquisition as "the first step in the group's strategic mission to promote the acquisition of retail and institutional cryptocurrency businesses outside of Japan."
With this acquisition as a springboard, the company plans to continue exploring the possibility of acquiring companies with complementary capabilities, expertise, services, licenses, and technologies both in Japan and overseas.
Aplo is a company that provides trading applications and infrastructure to institutional investors and is currently registered with the French Autorité des Marchés Financiers (AMF) as a Digital Asset Service Provider (DASP).
According to the official announcement, Aplo currently has six clients, including hedge funds, banks, and asset management companies.
After joining Coincheck, the company will provide financial solutions such as cross-margining and deferred settlement, expanding liquidity and product supply across multiple jurisdictions.
It is planned to expand.