Coincheck, one of Japan’s most established crypto exchanges, is stepping outside its home market with a new move into Europe. The company confirmed a takeover plan involving Paris-based Aplo, a regulated prime brokerage firm that focuses on institutional investors.
With this takeover, all shares in Aplo will be exchanged for new shares in Coincheck Group N.V., a holding firm of the exchange. Closing will occur in October 2025 upon satisfaction of usual conditions.
It’s beyond a border crossing transaction for Coincheck. It has started a wider approach to reach beyond Japan. Strategic acquisitions and collaborations that confer some level of value in technology, expertise, or licenses have been considered by Coincheck. Europe, within a regulated environment and burgeoning digital asset marketplace, is seen as part of a growth plan.
Aplo has built a reputation since its founding in 2019 by Oliver Yates, Arnaud Carrere, Simon Douyer, and Jacques Lolieux. Based in Paris, the company developed its own trading platform designed for institutional clients. It provides algorithmic execution, access to liquidity across markets, and a regulatory framework that ensures compliance with European standards.
The brokerage is already licensed with France’s Financial Markets Authority and is on track to obtain a full license within the EU’s MiCA regulation. Today, it services over 60 active institutional clients such as hedge funds, banks, and asset managers.
Its fast growth was celebrated when it was the “Prime Broker of the Year (EMEA)“ award winner at the 2025 Hedgeweek Global Digital Asset Awards.
Notably, all four founders will remain in charge of Aplo after the sale, providing Coincheck with continuity and access to their experience.
The two companies will combine their strengths to bring institutional investors further advanced solutions. Important emphases include financing solutions such as cross-margining and deferred settlement, both intended to help maximize clients ‘ efficiency.
They will further provide wider liquidity access across geographies and build out infrastructure commensurate with crypto markets’ around-the-clock nature.
Another part of the plan is developing a B2B2C structure in which banks use Aplo’s trading desk to provide crypto services to their own customers. Aplo is also capable of providing higher liquidity in Coincheck’s altcoin offerings to solidify the market position of the exchange.
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