KDDI to take 15% stake in Coincheck with 89 billion won investment

Japan’s major telecom company KDDI will invest about 89 billion won in Coincheck, a Nasdaq-listed digital asset platform, to secure a 15% stake. KDDI will acquire 28.53 million newly issued Coincheck shares at $2.28 per share. Following the investment, the two companies plan to work on mutual customer acquisition and revenue sharing. KDDI is also expected to nominate a non-executive director at Coincheck’s shareholder meeting in September. The deal draws attention to whether cooperation between a telecom operator and a digital asset platform can expand customer bases and business links. Source: mk.co.kr