Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 132

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 132
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88 •the asset has no significant concerns or obstacles as to its transferability and traceability to record and update possessions; •the asset can properly be audited by an auditor; •the asset can be screened before transfer using a blockchain analysis tool; •the asset can be safely stored and transferred in our system or otherwise without difficulties; •our offer and support of the asset can properly and reliably fulfill obligations under the PSA; and •the transfer record of the asset can be traced without any difficulties. We further evaluate the following risks to satisfy ourselves that our offer and support of the cryptocurrency is unlikely to create risk exposure which exceeds our risk appetite or that we otherwise consider to be too high or unreasonable a risk for us: •market risk: the risk of significant price decline due to oversupply and other factors; •operating risk: the risk the asset may fail to continue to be available; •liquidity risk: the risk that holders are unable to transfer or redeem the asset due to low liquidity; and •other risks that are general to crypto assets or unique to certain assets, including hacking risk, risk of losing the asset due to falsification of records and reputation risk to us. Coincheck Staking In January 2025, we announced the launch of our “staking” reward program, Coincheck Staking, for Ethereum (ETH), from which both we and our customers benefit. Staking rewards are a way for cryptocurrency holders to earn more of the same cryptocurrency by actively participating in the blockchain network. By locking up their crypto in a dedicated hot wallet, these users help to validate transactions and maintain the crypto network’s security. In return, they receive additional cryptocurrency as a reward. We facilitate our customers’ staking of ETH via our role as the custodian and account manager for our customers deposited cryptocurrencies and using a third -partyprovider’s staking platform service. When the customer’s staking reward is received by us, we pass it through to the customer’s account, less our service fee (which we currently share with our third -partystaking platform service provider). While we currently use a third -partystaking platform provider to facilitate our customers’ staking, we acquired the staking platform service provider Next Finance in March 2025 for, among other reasons, to be able to have our own staking platform and not have to share our service fee with a third -partyplatform provider. We expect to complete our integration and testing, and be able to provide Coincheck Staking to our customers using our own (