Netherlands-based Coincheck Group has entered a stock purchase agreement to acquire Aplo SAS, a digital asset prime brokerage for institutional crypto investors.
According to the agreement, all issued and outstanding shares of Aplo are to be exchanged for new ordinary shares of Coincheck Group. The transaction is expected to close in October 2025, as it is still subject to undertakings and conditions.
Joining forces for improved services
This move is the next step in the group’s mission to make acquisitions for retail and institutional crypto businesses outside of Japan, including in Europe. Coincheck is exploring potential investments to add complementary companies or specialised knowledge, products, licences, and services that could improve its business.
Aplo was chosen for its proprietary institutional trading application and supporting infrastructure, combining algorithmic execution, unified access to liquidity, and a robust regulatory foundation. The company is currently registered as a Digital Asset Service Provider with the French Authority for the Financial Markets (AMF), having a full crypto asset provider licence under the EU’s MiCA.
With the alliance, the two companies will accelerate Aplo’s product roadmap and further develop existing solutions, including financial services such as cross-margining and deferred settlement, and expanding liquidity access and product offerings across multiple regions and to new partners. Additionally, Aplo will drive more developments in digital asset trading infrastructure and offer a B2B2C solution to banks interested in its execution platform to serve their customers.
The companies also plan to see whether Aplo can offer significant additional liquidity to some of Coincheck’s altcoin offerings. The brokerage provides Coincheck with expertise recognised by institutions across Europe and a high-performance team familiarised with entrepreneurial culture. By unifying their strengths, the two companies will increase their ability to meet the demands of crypto investors and set new standards for transparency, security, and efficiency in the market.
