Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 172

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 172
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 payment processing frameworks.

As a part of the innovation and paradigm shifts in the payment industry, stablecoins have played a critical role by providing a bridge between
the traditional payment system and blockchain ecosystems. Circle, the issuer for USDC, has emerged as a significant player in the B2B and cross-border payment market. According to Circle’s 2024 State of the USDC Economy report, leading payment
companies and merchant settlement firms such as VISA and MoneyGram are now using USDC and approximately US$12 trillion has been transacted since its introduction in 2018. Data compiled by VISA shows that USDC has been rapidly gaining market share,
accounting for 50% of total transactions since January, with US$456 billion in transaction volume in a single week in early 2024, compared to US$89 billion for Tether’s USDT. A survey conducted by Mastercard from 2022 disclosed 51% of
Latin American consumers had paid with digital currency, and more than a third had paid with stablecoins. Data from a 2024 Chainalysis report shows that Latin America received nearly $415 billion in digital currency from July 2023 to June 2024,
while among the top five Latin American countries with most digital currency received, stablecoins accounted for on average around three-fifths of retailed-sized digital currency transaction in the same period. OwlPay is one of the first
movers and successfully developed a platform using USDCs as an efficient means of settlement for our clients, such as international e-commerce platforms and OTAs. We also plan to integrate the functionalities
of OwlPay Wallet Pro into the OwlPay platform so that customers will be able to access various fiat currency and stablecoin payment options and perform these payment transactions on a single platform. Partnering with Circle and
MoneyGram, our stablecoin-based payment capabilities allow payment services to be provided at lower cost compared to the traditional methods. We believe the stablecoin-based payments market will continue to expand, and we plan to continue to grow
and develop our services offerings with more stablecoins, including EURC, ZUSD, and GYEN.

OwlPay’s Competitive Strengths

Early Mover Advantage in the Payment Industry

We are an early mover in the use of blockchain and stablecoin to provide a one-stop payments solution.
Through developer-friendly API integration, OwlPay enables businesses to automate the accounts payable process by streamlining sales order management, finance reconciliations and international payouts with various settlement methods and
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