Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 280

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 280
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 (a)Transaction revenue Transaction revenue is mainly derived from sales transactions with the Company’s customers. The Company’s customers include parties who hold accounts and utilize the services provided on the Company’s crypto asset platforms which includes customers on the marketplace platform as well as cover counterparties in sale cover transactions on the Company’s and third -partyexchanges. However, users that purchase crypto assets from other users on the Company’s exchange platform but are not charged a commission do not meet the definition of a customer under IFRS 15. When the Company trades with customers on its marketplace platform, the Company adds a bid -askspread to the prices of the Company’s cover transactions. The spread is set/revised by the Company in a range of 0.1% to 5.0% for each cryptocurrency based on prevailing market conditions, including competitors’ offers. The Company has the discretion to add a spread that might be higher than the above -mentionedrange in instances where there are sudden market movements and shortage of liquidity in the market to ensure the execution of the transactions with customers. Furthermore, the spreads are applied to all transactions with customers regardless of whether the positions made by those transactions are offset before the execution of cover transactions. The Company has a performance obligation to transfer control of the cryptocurrencies to the customer in its contracts with customers and to deliver cryptocurrencies for transactions with customers. Contracts are defined at the transaction level and revenue is recognized at the point of time when this performance obligation is fulfilled in accordance with IFRS 15 Revenue from Contracts with Customers. When the Company receives cryptocurrencies as non -cashconsideration, the Company measures received cryptocurrencies at fair value at the time of delivery. The Company determined that it acts as a principal in such transactions as it controls (i.e., has the ability to direct the use of, and obtain substantially all of the remaining benefits from) the cryptocurrencies it holds as inventory before they are transferred to the Company’s customers. Specifically, the Company has the ability to decide whether to hold the crypto assets to balance our inventory level or sell the crypto assets to customers or cover counterparties, decide to whom they will be sold, and prevent others from directing the use of the assets. The Company is also entitled to substantially all of the economic benefits of the assets through sales of the assets. Additionally, the Company is primarily responsible for fulfilling the promise to provide cryptocurrencies to customers on its marketplace platform pursuant to its terms of service, has inventory risk as the F-17 COINCHECK, INC.
NOTES TO THE FINANCIAL STATEMENTS