Crypto Prime Brokerage Firm in Paris to be Acquired by Coincheck, Owned by Monex

Monex Group, a Japanese financial services company, is making a significant move into the world of stablecoins and global expansion. The company, which acquired Coincheck in 2018 for ¥360 million ($33.5 million), has announced its intention to issue a yen-pegged stablecoin and leverage both Coincheck and Monex Securities brokerage to support this project.

The acquisition of Paris-based Aplo SAS, a digital asset prime brokerage serving institutional clients, marks Coincheck Group's first acquisition outside Japan. Aplo's platform, which combines algorithmic execution with access to deep liquidity, will contribute to Coincheck's altcoin markets and potentially provide liquidity for the upcoming yen-pegged stablecoin.

Gary Simanson, CEO of Coincheck Group, has highlighted that the acquisition reflects their broader strategy of building both retail and institutional businesses across global markets. The acquisition, set to close in October 2025, will see Aplo's shareholders exchange their stakes for newly issued Coincheck Group shares.

Aplo, founded in 2019, serves over 60 active institutional clients and has plans to expand its product offering and scale its platform globally, in partnership with Coincheck Group. The four founders of Aplo will remain with the company post-acquisition.

The yen-pegged stablecoin, if issued, will be backed by Japanese government bonds and will be redeemable one-to-one with the yen. Potential applications for this stablecoin include international remittances and corporate settlements.

Monex Group believes that moving into stablecoins is essential to stay competitive in the rapidly evolving financial landscape. The person leading the negotiations for the establishment of the yen-backed stablecoin has not been specified in the provided search results.

In addition to the stablecoin project, Monex Group is also in final talks to acquire a European crypto-related company, although the identity of this company has not been publicly disclosed yet. The company is focusing on areas of expansion such as financing solutions like cross-margining, broader liquidity access, and new B2B2C services for banks interested in offering crypto products to customers.

This strategic move by Monex Group signifies a significant step forward in the integration of stablecoins and digital assets into traditional financial services, with potential implications for the global financial market.