Japan’s Coincheck Group Acquires European Prime Brokerage Aplo in Push for Institutional Expansion

Coincheck Group has secured a strategic foothold in Europe's institutional crypto market with its acquisition of Paris-based prime brokerage Aplo SAS. The all-stock transaction, expected to close by October 2025 pending regulatory approvals, marks the Japanese exchange operator's first major overseas expansion play.

The deal reflects accelerating consolidation in digital asset markets as established players seek scale and geographic diversification. Aplo brings specialized infrastructure for algorithmic execution and unified liquidity access, currently serving over 60 institutional clients including hedge funds and asset managers across Europe.

This move capitalizes on growing institutional adoption in Europe, where regulatory clarity under MiCA is creating favorable conditions for crypto service providers. Founded in 2019 by former trading executives, Aplo operates under France's AMF as a registered Digital Asset Service Provider.