Company: OWLS
Filing Date: 2025-09-03
Form Type: F-1
Source: 0001193125-25-195057
Chunk: 166

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-03
Form: F-1
Chunk 166
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 banks, correspondent banks,

110

credit card networks and card issuing banks. The traditional route of payment with the banking system relies on the SWIFT network to implement cross-border payments; alternatively, credit card
networks offer payment options at higher transaction fees. Public blockchain ledger provides a new SWIFT-like settlement ledger that has the potential to complete global settlements within seconds and with much cheaper network fees.

We designed OwlPay with the goal to streamline global business transactions
and enhance the efficiency of digital payment systems for customers conducting cross-border payments. Supporting a flexible infrastructure for both fiat currency and stablecoins, OwlPay aims to develop a secure, regulated, Web2-Web3 hybrid
payment solutions that can make it faster, cheaper and easier for businesses to make and accept payments on an international scale.

OwlPay’s Market

OwlPay aims to serve the cross-border payments markets, including our own end customers and those through third-party participants in
the digital assets economy and in the payment industry. According to the 2024 McKinsey Global Payments Report, the global payment industry handled US$1.8 quadrillion in transaction value in 2023; global payment revenue, comprised of both commercial
and consumer domestic and cross-border payment services, reached an all-time high of over US$2.4 trillion in 2023 and will reportedly grow at a 5% annual rate after 2023. It is also expected to exceed US$3.1
trillion by 2028 according to the same report. We believe that cross-border payment dynamics are robust, and according to the 2024 McKinsey Global Payments Report, global revenue from cross-border transactions was estimated at around
US$288 billion in 2023, a 20% increase from the previous year.

Fast-Growing Addressable Payments Markets: Cross-Border Business Payments

OwlPay targets cross-border B2B business payments and B2C payments. According to the 2024 McKinsey Global Payments
Report, the global B2B cross-border payments market has witnessed significant growth and transformation, with cross-border payment revenue totaling approximately US$210 billion in 2023. North America, Latin America and the EMEA experienced
double-digit revenue growth, while the Asia-Pacific region (excluding China) saw a 25% increase in 2023, according to the same McKinsey report.

Along with its growth, we believe that the B2B payment market is experiencing changes in the form of waves of digitization and innovation.
While fintech innov