Japan’s Coincheck Launches Coincheck Prime: A New Era for Corporate Crypto Custody

Coincheck, Japan’s leading cryptocurrency exchange, has introduced Coincheck Prime, a new service aimed at corporate and institutional investors, signaling a significant advancement in the country’s embrace of digital assets.

• Coincheck Prime targets corporate and institutional investors with deposit balances of at least 10 million yen ($66,763).
• Offers over-the-counter trading at preferential rates and robust security.
• Reflects a trend of Japanese companies investing in Bitcoin and altcoins as a hedge against inflation.

What is Coincheck Prime?

Coincheck Prime is a cutting-edge corporate crypto custody service designed for the serious investor. It’s not just about securely storing digital currencies; it’s a complete solution that includes over-the-counter (OTC) trading options at favorable rates. OTC trading, in simple terms, means that large transactions can be executed directly between parties without influencing the broader market, which is crucial for corporations needing to move significant funds discreetly.

Security remains a top priority for investors entrusting their digital assets to a custodian. Coincheck’s robust security measures are underpinned by its commitment to global standards for internal controls, risk management, and transparency. As a company spokesperson stated:

We adhere to global standards for internal controls, risk management, and security levels as required by [stock market-]listed financial group companies. We also provide services with a high level of transparency.

Why Japanese Companies are Turning to Crypto

The timing of Coincheck Prime’s launch is strategic, aligning with Coincheck’s dominant position as the number one exchange in Japan for Bitcoin spot trading volume in the second half of 2024. With total customer assets reaching 1.29 trillion yen (over $8.6 billion) as of the end of January 2025, Coincheck’s market presence is undeniable.

Japanese companies are increasingly turning to cryptocurrencies to shield their liquid assets from the declining value of fiat currency and to explore innovative fundraising methods. Companies like Value Creation, which recently invested $667,000 in Bitcoin, and Metaplanet, with ambitions to become “Asia’s leading Bitcoin treasury company” by expanding its holdings to 10,000 BTC by year’s end, exemplify this trend. SBC Medical Group and Remixpoint, the latter spending $3.2 million on Bitcoin and planning further investments in altcoins such as Ethereum, Solana, XRP, Avalanche, and Dogecoin, are also venturing into the crypto space.

This corporate shift towards digital assets is no laughing matter, but it’s not all serious business either. In Japan, even the sushi chefs might be contemplating Bitcoin as a side dish to their financial portfolios. The move is driven by a legitimate desire to navigate the economic challenges posed by a weak yen and to hedge against inflation.

The Future of Crypto in Japan

Japan’s economic landscape, characterized by a weakening yen, has driven companies to seek alternatives like Bitcoin to safeguard their finances and diversify their investment strategies. The country has been at the forefront of cryptocurrency adoption, supported by a regulatory framework that fosters digital assets. The Financial Services Agency (FSA) is considering reducing the crypto tax rate from 55% to 20%, a move that could significantly enhance investor confidence. Furthermore, discussions about the potential approval of spot Bitcoin ETFs are ongoing, which could have a profound impact on institutional investment in cryptocurrencies.

While the enthusiasm for Coincheck Prime is evident, it’s crucial to maintain a balanced perspective. The crypto market is known for its volatility, and while Japanese companies are increasingly interested, the risks associated with digital assets should not be overlooked. However, with Coincheck’s robust security protocols and transparent operations, corporate investors have a solid platform to explore the potential of cryptocurrencies.

Initiatives like Coincheck Prime are essential steps toward challenging the status quo, promoting decentralization, freedom, and privacy. They not only offer a secure gateway for corporations to enter the crypto market but also contribute to the broader financial revolution driven by Bitcoin and other cryptocurrencies.

Key Questions and Takeaways

• What is Coincheck Prime?

  Coincheck Prime is a new corporate crypto custody service launched by Coincheck, designed for corporate and institutional investors.

• Who is the target audience for Coincheck Prime?

  The target audience includes corporate and institutional investors with deposit balances of at least 10 million yen ($66,763).

• What additional services does Coincheck Prime offer?

  It offers over-the-counter trading at preferential rates, robust security for cryptoassets, and support from specialized experts.

• Why are Japanese companies increasingly investing in cryptocurrencies?

  Japanese companies are investing in cryptocurrencies to protect their liquid assets against the decreasing value of regular money and to raise funds through crypto investments.

• What is the current market position of Coincheck in Japan?

  Coincheck is the number one exchange in Japan for Bitcoin spot trading volume in the second half of 2024.

• What potential future use did Coincheck suggest for its Prime services?

  Coincheck suggested that its Prime services could be used by institutional investors if the government approves crypto spot ETFs in the future.