Bitcoin Exchange Coincheck Unveils $450k Startup Investment Fund

Tokyo-based cryptocurrency exchange Coincheck is launching a new investment fund.

AccessTimeIconAug 10, 2017 at 6:30 p.m. UTC
Updated Sep 13, 2021 at 6:49 a.m. UTC

Tokyo-based cryptocurrency exchange Coincheck is launching a new investment fund.

With a preliminary funding cap of 50 million yen (about $450,000), the fund will be used to support startups that are developing blockchain projects. Coincheck, in announcing the move, suggested that this amount could expand depending on the pace of investments.

Notably, the fund will also be leveraged to support teams that are planning to launch initial coin offerings or ICOs, according to co-founder and COO Yusuke Otsuka in an interview with TechCrunch.

Coincheck's explainer on the new investment fund details how it wants to offer business development and technology advice to companies that participate. In the blog post, the exchange cites "barriers to entry" for new companies looking to enter the space. As such, Coincheck is positioning the fund as a way to navigate some of the trickier waters involved.

Coincheck first opened its doors in 2014, unveiling its exchange service in September and officially launching in November of that year.

The fund's launch comes amid rising momentum for the tech in Japan.

The past few months have seen a growing number of retailers move to begin testing bitcoin transactions, following a move by the government to deem cryptocurrency as a legal form of payment.

Investment data image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.