Following recent reports that suggested Japanese online brokerage Monex Group was considering to take over Coincheck cryptocurrency exchange, Nikkei Asian Review has now reported that Coincheck would accept the acquisition offer.

While the exact terms of the acquisition remain unknown at the moment, Coincheck is likely to receive several billion yen from Monex. The exchange will undergo a major overhaul, which includes shuffling of its existing management.

As part of the agreement, Monex chief operating officer Toshihiko Katsuya will be taking over as the new president of Coincheck. In addition, founding President Koichiro Wada and chief operating officer Yusuke Otsuka will be stepping down from their roles after Coincheck receives the fresh capital.

The terms of agreement are currently being finalized and expected to be made public by Friday, the report suggests.

Following the major hack earlier this year in which Coincheck lost nearly $530 million in NEM tokens, the Japanese Financial Services Agency (FSA) ordered the exchange to improve its operations. Monex’s acquisition of Coincheck would mark the broker’s first foray into the cryptocurrency space.