Nasdaq-listed Japanese cryptocurrency exchange Coincheck (CNCK) has agreed to acquire French digital asset prime broker Aplo SAS, marking its strategic entry into the European market. The acquisition, expected to be completed by October 2025 pending regulatory approvals, will see Coincheck issue new ordinary shares to absorb all Aplo equity.
The move provides Coincheck with immediate regulatory access to European markets through Aplo's existing authorization from France's Financial Markets Authority (AMF). Aplo serves over 60 institutional clients including hedge funds, banks, and asset managers, and recently won "Prime Broker of the Year (EMEA)" at the 2025 Hedgeweek Global Digital Asset Awards. All four Aplo founders will remain with the company post-acquisition to ensure continuity.
This acquisition aligns with Coincheck's broader strategy to expand beyond its Japanese retail base and develop institutional-grade services globally. The company plans to combine Aplo's proprietary trading platform - which supports algorithmic execution and liquidity aggregation - with its own retail capabilities to create scalable B2B and B2B2C offerings across Europe.
