Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 129

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 129
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(“KYC”) and AML systems used in connection with our payment services, including on/off-ramping for conversion between fiat currency and stablecoin. Our investment in research and development aims to
further integrate blockchain technology and develop its applications, in order to meet the demands for easy-to-use, end-to-end solutions that facilitate cross-border transactions in a shorter time and at a lower cost, as well as in sectors that we have not yet entered into. After we achieved the product development
milestone with the launch of OwlPay in 2023, we temporarily shifted our research and development focus to maintaining stable operations of our existing products and optimizing integration with our partners. This allowed us to rapidly expand
the range of services and offer customers more options through additional partnerships within the framework of our existing products and services. We implemented a strategic adjustment in the mix of research and development staff towards
junior-level and newly hired employees. Aligned with our objective of integrating blockchain technology and developing its applications, we plan to enter into the next phase of product development, which will require more specialized talent and
additional resources, and expect to continue increasing our investment in our research and development in the foreseeable future.

Ability to Secure Strategic Partnerships and Participate in the Blockchain Economy

We offer a one-stop payment solution, including payment gateway and backend business payout, and our
business payout allows for a variety of payment options including via fiat currency, credit/debit card and stablecoin. We seek to enable a variety of payment options and from and to multiple sets of jurisdictions by leveraging synergistic
relationships with diversified financial settlement providers. Our proactive efforts to enter into business partnerships have allowed us to rapidly grow our payment service offerings and to advance the development and launch of various new products
in our pipeline, and would continue to affect the growth of our user base. In particular, our service offering for the stablecoin payment option, through which we integrate capabilities of various blockchain economy participants, aims to upgrade the
current payment infrastructure to the Web3 ecosystem. On the other hand, there are also risks inherent in our cooperation with business partners and third parties that may negatively affect our performance results. See also “Risk Factors —
Risks Related to Third Parties — We have in the past, and may in the future, enter into partnerships, collaborations, joint ventures or strategic alliances with third parties. If we are unsuccessful in establishing or maintaining strategic

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relationships with these third parties or if these third parties fail to deliver certain operational services, our business, operating