Japanese cryptocurrency exchange Coincheck, whose Netherlands-based holding company listed the trading platform on the Nasdaq last year (CNCK), has acquired Aplo, a digital asset prime brokerage firm regulated in France by the Autorité des Marchés Financiers (AMF).

The acquisition will help Coincheck, a popular exchange in Japan, expand into Europe, the companies said on Tuesday. The financial terms of the deal were not revealed.

Coincheck was established in Tokyo, Japan, in 2014, having rebranded from an earlier bitcoin wallet and payment company called ResuPress, founded in 2012 by Koichiro Wada and Yusuke Otsuka.

Coincheck Group N.V., which is headquartered in the Netherlands, listed on the Nasdaq late last year via a merger with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV (THCP).

As part of the acquisition, all issued and outstanding shares of Aplo will be exchanged for newly issued ordinary shares of Coincheck Group, a transaction expected to close in October 2025, according to a press release.

“Aplo brings us proven technology, expertise recognized by institutional clients in Europe, and a high performance team with an entrepreneurial culture,” said Gary Simanson, CEO of Coincheck Group in a statement.

In addition to being registered under the AMF in France as a Digital Asset Service Provider. Aplo is in the process of obtaining a full crypto asset service provider license under the European Union’s Market in Crypto Assets Regulation (MiCA).