KDDI forms business alliance with Coincheck, invests about 10.2 billion yen, and establishes a new company

KDDI will acquire a 14.9% stake in Coincheck Group through a third-party allotment worth about ¥10.2 billion ($65 million).

The company will form a capital and business alliance with Coincheck to expand digital asset services.

KDDI and au Financial Holdings will set up au Coincheck Digital Assets to develop non-custodial wallets and related financial products.

The partnership could bring crypto services deeper into KDDI’s au ecosystem, including payment and points-based services.