Telecom giant KDDI to acquire 14.9% stake in Coincheck Group in $65 million deal

The companies signed a business alliance for revenue sharing, referral fees and customer referrals to expand crypto access in Japan.

KDDI, one of Japan’s largest telecom companies, is set to hold a 14.9% stake in local crypto exchange operator Coincheck Group (CNCK) after agreeing to a $65 million deal.

The telecom giant will subscribe for 28.5 million newly issued Coincheck Group shares at $2.28…