Company: OWLS
Filing Date: 2025-08-01
Form Type: DRS/A
Source: 0000950123-25-006894
Chunk: 10

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-08-01
Form: DRS/A
Chunk 10
---
 currency or USDC and enables individuals a simpler, more convenient and faster way to perform cross-border transactions and remittances.

According to CB Insights’ latest Stablecoin Market Map, OwlTing is ranked among the top 2 global players in the “Enterprise &
B2B” category, earning a high Mosaic score of 832—underscoring its leadership in blockchain-powered financial infrastructure for businesses. OwlPay for its business customers supports B2B stablecoin transactions via a hosted wallet
infrastructure and a comprehensive suite of services, including stablecoin payment gateway services, on/off-ramp capabilities, cross-chain transfers and payout services. These services enable key use cases such as e-commerce payments, cross-border
remittances, payroll, and treasury management. The Mosaic score—CB Insights’ proprietary metric evaluating market opportunity, momentum, and financial strength—highlights OwlTing’s strong market positioning and growth potential
in the enterprise stablecoin ecosystem.

OwlPay continues to build multi-jurisdictional capabilities and aims to expand its service
offerings internationally. For example, we currently hold money transmitter licenses, or MTLs, in 35 states in the United States and the Virtual Asset Service Provider, or VASP, registration in Poland, and the Electronic Payment Instrument Service
Provider, or EPISP, registration in Japan. We are in the process of applying for MTLs in remaining states in the United States, a fund transfer service license and a stablecoin license in Japan, a major payment institution license in Singapore and a
money service operator license in Hong Kong; and we expect to upgrade the qualification as a Crypto Asset Service Provider, or CASP, under Markets in Crypto-Assets Regulation (MiCAR) in the EU. We also plan to further expand to Brazil, Argentina and
other markets in South America where we could provide virtual asset services without being subject to licensing requirements.

We believe
our payment business powered by blockchain technology will be the most significant driver of our future business expansion plans. We believe our expansion into new products and markets from our current customer-centric businesses will enable us to
capture cross-selling opportunities with our existing relationships in the e-commerce and hospitality industries, and to grow into a comprehensive cross-border payment solution suite and business ecosystem.

For the year ended December 31, 2024, our company’s total revenue was comprised of our operations in the following main business
segments: (i) Payments contributed to 53% of our total revenue; (ii) Hospitality (which include software