Telecom giant KDDI to acquire 14.9% stake in Coincheck Group in $65 million deal
The post Telecom giant KDDI to acquire 14.9% stake in Coincheck Group in $65 million deal appeared on BitcoinEthereumNews.com. KDDI, one of Japan’s largest telecom companies, is set to hold a 14.9% stake in local crypto exchange operator Coincheck Group (CNCK) after agreeing to a $65 million deal. The telecom giant will subscribe for 28.5 million newly issued Coincheck Group shares at $2.28 each, Coincheck said on Wednesday. The deal is expected to close in June. Coincheck and KDDI also signed what both firms called a business alliance covering customer referrals, revenue sharing and referral fees. The companies said the partnership is aimed at expanding crypto access in Japan through KDDI’s consumer channels and Coincheck’s trading, custody, staking and asset-management services. KDDI has been building around crypto and Web3 since at least 2023, when it launched αU, a metaverse and Web3 service with a non-fungible token (NFT) marketplace and crypto wallet. The company deepened that pu