Coincheck brings in KDDI as a strategic shareholder to advance its digital asset business in Japan.

CoinFeed reported on May 13th that, according to Business Wire, Coincheck Group N.V. announced a subscription and investor rights agreement with Japanese telecommunications operator KDDI Corporation. KDDI will subscribe for 28,536,516 newly issued ordinary shares at $2.28 per share, totaling approximately $65.06 million, representing a 14.9% stake upon completion of the transaction. Simultaneously, Coincheck's Japanese subsidiary, Coincheck, Inc., signed a business cooperation agreement with KDDI to promote digital asset services within the KDDI ecosystem through user referrals and revenue sharing.