Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 176

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 176
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 services. We believe this will allow us to expand faster and at lower cost than entities that lack an
established customer base. We aim to build an expanded platform of products and services to meet the needs of our business clients and capture more of the value chain. We have built a substantial client base through our hospitality, e-commerce and blockchain services offerings, including OwlNest, OwlTing Market, OwlJourney and OwlTing Experiences. Through our interaction with our business clients, we have a better
chance in gaining insights into their business and operational needs.

In 2023, we launched OwlPay, our integrated payment
services, to benefit the business customers in our existing operations, including our customers in the hospitality sector, by reducing and/or eliminating manual processes and complexity from accepting
end-consumer payments and paying out suppliers. We believe the combination of our various service offerings will create the potential for a diverse and recurring revenue stream through our payment business,
where payment volume is endogenously generated and captured within our OwlTing Group ecosystem.

OwlPay’s Competition

OwlPayis designed to tackle the continuously evolving global payments environment. By offering a regulated, secured
payment platform that combines multiple solutions in fiat and stablecoin, we believe that we

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are well-positioned to utilize our competitive advantages and meet the needs of today’s business payments. However, we do face significant competition from existing and potential players.

The traditional payment ecosystem consisting of banks and credit card networks – despite having certain disadvantages in speed,
accessibility, transparency and cost – continues to be a large and established payment ecosystem. We may face competition from participants in the traditional payment ecosystem, including merchant banks, correspondent banks, credit card
networks and card issuing banks. However, as a payment platform, we may also partner with those incumbents in the traditional payment ecosystem: for example, we partner with banks to provide business customers using the partner bank’s payment
route with a more comprehensive and user-friendly payment management and payout solution. We also expect to provide certain of our solutions under OwlPay to banks and credit card network intending to leverage stablecoin payments, such as
white label wallet and AML/KYC service package.

We also face competition from PSPs such as PayPal, Block and Stripe, which integrate
processing, payment, and merchant acquiring functions, are quickly adopting blockchain technology solutions and have more financial resources and are larger organizations than we are at present. Blockchain networks present PSPs with two unique
opportunities to generate additional