KDDI buys 14.9% of Coincheck, will launch noncustodial wallet

KDDI Corporation agreed to purchase a 14.9% stake in Coincheck Group N.V. for $65 million and has formed a majority-owned joint venture, au Coincheck Digital Assets, to roll out a noncustodial digital wallet in Japan by summer 2026.

Under the agreement KDDI holds 50.1% of the joint venture, Coincheck holds 40% and au Financial Holdings, KDDI’s financial-services arm, holds the remaining 9.9%. The holding company targeted in the transaction, Coincheck Group N.V., is based in the Netherlands and is the parent of one of Japan’s most-downloaded cryptocurrency exchanges. The joint venture was incorporated in December 2025 and the capital alliance and formal business agreement were signed this week.

KDDI serves more than 30 million mobile subscribers and plans to integrate the wallet and other digital-asset services into its existing payments ecosystem, including the au PAY platform that already handles banking, insurance and routine consumer transactions. The planned wallet will be noncustodial, meaning users will hold their own private keys rather than the platform storing assets on their behalf.

The companies noted the timing reflects a regulatory transition in Japan. Oversight of digital-asset exchanges is scheduled to shift from the Payment Services Act to the Financial Instruments and Exchange Act by around 2027, a change that will place exchanges under rules more similar to securities regulation. The firms say entering the market ahead of the full transition will allow them to build product and operational infrastructure while the regulatory framework is finalised.

A report by IMARC Group projects Japan’s blockchain sector could expand from about $2.5 billion in 2025 to roughly $252 billion by 2034, with an annual growth rate of 66.8% between 2026 and 2034. The report cites proposed stablecoin reserve reforms and discussions of a flat 20% crypto tax rate as factors influencing adoption and investment.