Company: OWLS
Filing Date: 2025-09-24
Form Type: F-1/A
Source: 0001193125-25-213968
Chunk: 175

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-24
Form: F-1/A
Chunk 175
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 developed regulatory frameworks for the payment industry, which could
be complicated to navigate and may continue to evolve. We have set out to build a global licenses portfolio, including the MSB registration with the U.S. federal government, the MTLs from a total of 35 states in the United States that we have
obtained, the VASP registration in Poland and the EPISP registration in Japan. We have been making applications for the payment-related licenses in stages and have invested over three years in building our current license portfolio. We have also
developed and invested in our business to meet various requirements for obtaining and maintaining these payment-related licenses, including bonding, minimum capital and net worth requirements, staffing of qualified professionals and development of
suitable internal controls and reporting and recordkeeping mechanisms. For more details, see “—Regulations.”

We are
also in the process of applying for and obtaining additional relevant licenses in jurisdictions including the remaining states of the United States, Japan, Singapore and Hong Kong, expect to upgrade the qualification as a CASP in the EU, and are
preparing to further expand our license portfolio to cover other regions including Latin America. Preparation and the application process for these payment-related licenses often take considerable amount of time and effort. We have been coordinating
and building internal resources among our legal, compliance, finance and R&D teams, as well as connecting with outside counsels for various jurisdictions, in making progress in pursuit of such licenses.

We believe our global licensing portfolio better positions us in dealing with the evolving regulatory landscape and expanding our reach for
clients and potential collaborations with financial service providers in various jurisdictions. The time and resources required for obtaining payment-related licenses across various jurisdictions may also create a barrier to entry for our potential
competitors.

Our AML and Cybersecurity Capability

We leverage the services of industry leading service providers, including Sumsub and Chainalysis, to develop comprehensive AML systems. By
integrating these providers’ various functions into one cohesive infrastructure, our AML system can scan not only transactions happening between bank accounts, but also transactions between digital asset wallets and between a bank account and
a digital asset wallet. We plan to provide certain of our solutions under OwlPay, such as AML/KYC service package to financial institutions intending to leverage stablecoin payments.

We also invest in data and cybersecurity. Payment instructions on the OwlPay Payment can be signed with hardware security module
technology, a specialized security device used to manage, process, and store digital keys securely, ensuring cryptographic operations are