KDDI to Acquire 14.9% Stake in Coincheck for $65M

Japanese telecom giant KDDI is set to acquire a 14.9% stake in Coincheck Group for $65 million. The deal is expected to close in June.

KDDI will subscribe for 28.5 million newly issued Coincheck Group shares at $2.28 each. This was announced by Coincheck.

The companies signed a business alliance for revenue sharing, referral fees, and customer referrals. The partnership aims to expand crypto access in Japan through KDDI’s consumer channels and Coincheck’s trading, custody, staking and asset-management services.

KDDI gains the right to nominate one non-executive director to Coincheck Group’s board at its next annual general meeting, expected in September. The telecom will also receive registration rights for the shares.

The investment aligns with KDDI's recent Web3 and metaverse initiatives. The company 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 marketplace and crypto wallet.

KDDI deepened that push through a capital and business alliance with HashPort, a Japanese Web3 wallet developer. The deal was tied to plans allowing users to convert Ponta loyalty points into stablecoins and crypto, and convert those assets into au PAY gift cards.

Coincheck’s Dutch parent listed on Nasdaq in late 2024 under the ticker CNCK after a delayed plan to go public through a SPAC deal. The company has since pushed into institutional crypto services, including through its acquisition of digital asset prime broker Aplo.

As of December 2025, KDDI had over 72 million mobile subscriptions. J.P. Morgan advised Coincheck Group on the deal. De Brauw Blackstone Westbroek and Simpson Thacher & Bartlett acted as legal counsel.