Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 67

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 67
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market share. As of March 31, 2023, 2024 and 2025, our customer assets were ¥344 billion, ¥744 billion and ¥859

billion, respectively. Our marketplace trading volume was ¥157.1 billion, ¥234.6 billion and ¥337.5 billion during

the years ended March 31, 2023, 2024 and 2025, respectively.

We believe that our customers choose us due to our trusted and recognized brand, robust product offering

and strong customer service. Approximately 51% of our verified accounts are held by customers under 40 as of

March 31, 2025, providing the opportunity for our business to grow alongside our customers as they reach their

prime earning years. We believe that this, combined with our constant innovation and robust compliance

infrastructure, position us to capitalize on the potential growth of the Japanese crypto economy.

Our Marketplace platform offers our customers access to 30 cryptocurrencies, including Bitcoin, Ethereum

and XRP, while our Exchange platform, which offers 20 cryptocurrencies, is geared more towards sophisticated and

institutional crypto investors and provides liquidity support for transactions on our Marketplace platform. We

believe we are well positioned to benefit from increasing adoption of cryptocurrencies and other new technologies

within Japan, the world’s fourth largest economy. We currently derive most of our total revenue from transactions

on our Marketplace platform.

We also continue to be an innovator in the Japanese crypto economy with the goal of providing to Japanese

customers and institutions broad access to technological developments in the industry. For example, we offer our

Coincheck NFT Marketplace, a separate display screen for our customers, which we expect to have synergies within

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our retail customer base, and conducted Japan’s first IEO during 2021. Our smartphone application is our main

point of contact with our customers, and we believe it provides a user friendly experience with sophisticated user

interface and experience. To maintain the quality of customer experience, we continuously invest in flexible system

and software development, and engineers and product developers accounted for 36.6% of our staff as of March 31,

2025.

We believe that having recently become a publicly traded company listed on Nasdaq will help us access

international capital markets, increase our ability to make acquisitions of crypto businesses both inside and outside

of Japan, and enhance hiring and retention of key personnel via equity compensation incentives.

Our Market Opportunity

Crypto assets are becoming more accepted as a new asset class.