Company: OWLS
Filing Date: 2025-08-01
Form Type: DRS/A
Source: 0000950123-25-006894
Chunk: 164

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-08-01
Form: DRS/A
Chunk 164
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-border payment market. According to Circle’s 2024 State of the USDC
Economy report, leading payment companies and merchant settlement firms

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such as VISA and MoneyGram are now using USDC and approximately US$12 trillion has been transacted since its introduction in 2018. Data compiled by VISA shows that USDC has been rapidly gaining
market share, accounting for 50% of total transactions since January, with US$456 billion in transaction volume in a single week in early 2024, compared to US$89 billion for Tether’s USDT. A survey conducted by Mastercard from 2022
disclosed 51% of Latin American consumers had paid with digital currency, and more than a third had paid with stablecoins. Data from a 2024 Chainalysis report shows that Latin America received nearly $415 billion in digital currency from July 2023
to June 2024, while among the top five Latin American countries with most digital currency received, stablecoins accounted for on average around three-fifths of retailed-sized digital currency transaction in the same period. OwlPay is one of
the first movers and successfully developed a platform using USDCs as an efficient means of settlement for our clients, such as international e-commerce platforms and OTAs. Under OwlPaysuites,
customers can access various fiat currency and stablecoin payment options and perform these payment transactions through various solutions. By collaborating with Circle and MoneyGram, our stablecoin-based payment capabilities allow payment services
to be provided at lower cost compared to the traditional methods. We believe the stablecoin-based payments market will continue to expand, and we plan to continue to grow and develop our conversion services offerings with more stablecoins, including
EURC, ZUSD, and GYEN.

OwlPay’s Competitive Strengths

According to CB Insights’ latest Stablecoin Market Map, OwlTing ranks among the top 2 global players in the ‘Enterprise &
B2B’ category, with a Mosaic score of 832—demonstrating its leadership in blockchain-powered financial infrastructure for businesses. Our OwlPay solution facilitates B2B stablecoin
transactions through hosted wallet, stablecoin payment gateway, conversion, and payout services, enabling key use cases such as cross-border payments, payroll, and treasury management. The Mosaic score—CB Insights’ proprietary
metric—assesses a company’s market opportunity, momentum, and financial strength, further highlighting OwlTing’s strong position and growth potential in the