Canadian digital asset manager 3iQ is set to be bought by a Japanese crypto exchange Coincheck.

Ontario-based 3iQ, which in 2017 became the first regulated digital asset manager in Canada and in 2020 launched one of North America’s first exchange-traded bitcoin and ether funds, has entered into a stuck purchase agreement between its own parent company , Monex, and Netherlands-based Coincheck Group, holding company for Coincheck.

Under the terms of the agreement, Coincheck will acquire approximately 97% beneficial ownership of 3iQ in a deal that values the digital asset manager at $118m.

3iQ was founded in 2012 and in 2024, Japanese fintech Monex acquired a majority stake for approximately $46 million.

The deal is yet another…