Japan's telecommunications company KDDI will invest $65 million to acquire a 14.9% stake in Coincheck Group. A recent CoinDesk report said KDDI agreed to buy 28.5 million newly issued Coincheck Group shares at $2.28 each, and the deal is expected to be completed in June.

The companies also signed a business partnership alongside the transaction that includes customer referrals, revenue sharing and referral fees. The strategy aims to broaden access to cryptocurrencies in Japan by combining KDDI's consumer channels with Coincheck's trading, custody, staking and asset management services.

Through the deal, KDDI will secure share registration rights. It will also gain the right to nominate 1 outside non-executive director to Coincheck Group's board at the next regular shareholders meeting expected in September.

KDDI has expanded related businesses since launching its metaverse and Web3 service, 'alphaU', in 2023, which includes a non-fungible token marketplace and a cryptocurrency wallet. It later formed a capital and business partnership with Japanese Web3 wallet developer HashPort, and pursued plans to convert Ponta points into stablecoins and cryptocurrencies, or convert them back into au PAY gift cards.

Coincheck Group is also moving to expand cryptocurrency services for institutional clients.