Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 173

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 173
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urrencies (including fiat currency, credit cards and stablecoin) internationally. OwlPay also allows individuals or businesses to transfer funds within minutes across the globe. To this end, we have invested a substantial amount of time and
effort to obtain the required payment licenses in each jurisdiction in which we plan to operate and/or establish partnerships with financial institutions and payment service providers that can offer a variety of payment solutions.

Payment service is subject to a stringent regulatory regime and the license application process could be time-consuming and expensive. As an
early mover in blockchain-based payment services, we have obtained licenses, made license applications and/or entered into agreements with payment service partners that hold the required credentials in jurisdictions where we have operations. We are
currently applying for new or additional licenses in the United States, Japan, Singapore and Hong Kong, and preparing to further expand to cover other regions including the EU and Latin America. In particular, we have completed the MSB registration
with the U.S. federal government, and we have obtained the MTLs from a total of 30 states in the United States and the VASP registration in Poland. For further details, see “— Regulations.” To illustrate, for a business client in
Florida paying its vendors in Japan, it can exchange U.S. dollars to Japanese Yen and complete the cross-border payout to its vendors in Japan, all done with one stop on the OwlPay platform. Alternatively, the Florida business may also choose
to send via USDC: it can on-ramp its U.S. dollars and convert into USDC, and send USDC to its vendors in Japan at the vendors’ wallet. When we release our off-ramp service in Japan in the future, these
vendors in Japan

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will also be able to use our services to receive and/or off-ramp the received stablecoin to Japanese Yen and deposit to their bank accounts.

We have built partnerships with a range of established business partners in the payment industry, including Circle, Coinbase Prime, Bridge
XYZ, MoneyGram, VISA and NIUM, with whom we can integrate our services with a wide range of payment solutions. For more details of our payment solutions, see “— Our Current Products and Services — Payment Products and Services.”
We are also actively seeking to expand our payment network with additional settlement partners. NIUM is a payment service provider headquartered in Singapore with a global footprint, and helps OwlPay with implementing domestic and
international payout services, supporting customers in funding with 6 different fiat currencies, and assisting in