Coincheck to acquire Aplo SAS, terms undisclosed

Coincheck (CNCK) announced that it has entered into a stock purchase agreement to acquire Aplo SAS. Pursuant to the agreement, all issued and outstanding shares of Aplo are to be exchanged for newly issued ordinary shares of Coincheck Group. Closing of the transaction, subject to certain undertakings and conditions, is expected in October. Founded in 2019 in Paris by Oliver Yates, Arnaud Carrere, Simon Douyer, and Jacques Lolieux, Aplo has built a proprietary institutional trading application and supporting infrastructure, combining algorithmic execution, access to liquidity, and a regulatory foundation. Aplo is currently registered as a Digital Asset Service Provider with the French Authority for the Financial Markets and is in the process of obtaining a full crypto asset service provider license under the European Union’s Market in Crypto Assets Regulation. All four founders are to continue with Aplo after the closing. The companies will also explore, as a potential synergy, whether Aplo can provide significant additional liquidity to some of Coincheck’s altcoin offerings to its customers.