Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 136

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 136
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4, and the top ten lenders accounted for 11% of our crypto asset borrowings as of March 31, 2025. Under the borrowing agreements, there is no restriction on our use of the borrowed crypto assets during the relevant lending period. Coincheck Lending has two business objectives. One, is to be able to facilitate more promptly the settlement of customer transactions and the completion of transfer requests. Because our customers’ cryptocurrencies are held in custody in segregated cold wallets, they are not accessible for immediate settlement of trades or transfers out of customer accounts. We therefore borrow certain amounts for deposit in our hot wallets to be able to facilitate more prompt settlement. Our other objective is the fee offered to customers, which we view as another account benefit that we offer to help attract, engage and retain customers. See, also, “— Account Management and Custody of Customer Crypto Assets” below. Web3-Related Services “Web3” can be explained as follows: Blockchain being deployed to new ends (meaning other than for cryptocurrencies). Examples include (1) NFTs, which are the creation of “digital deed” ownership records of unique digital objects — or nonfungible tokens (as previously described, the Coincheck NFT Marketplace offers these), (2) DAOs, or “decentralized autonomous organizations,” which raise and spend money, but all decisions are voted on by members and executed by encoded rules, and (3) DeFi, or “decentralized finance,” which aims to remake the global financial system. The totality of these efforts is called “Web3.” Web3 can be viewed as a convenient shorthand for the project of rewiring how the web works, using blockchain to change how information is stored, shared, and owned. Advocates argue that Web3 will create new economies, new classes of products, and new services online, return democracy to the web, and define the next era of the internet. Our Web -3related services, including initiatives we may consider, can involve services both to the companies creating or involved in Web3 businesses or projects, such as issuers, owners or sellers of NFTs, including gaming companies using blockchain to deliver their products, and companies that seek to launch crypto assets through IEOs, as well as the retail or end user customers who would like to buy and enjoy the NFTs (which they can do through our Coincheck NFT Marketplace) or as investors in IEOs (which they can do through our IEO platform). We are currently considering applying