Company: CNCKW
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086398
Chunk: 124

Company: Coincheck Group N.V.
Filing Date: 2025-09-10
Form: 424B3
Chunk 124
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 our customers access to 34 different 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 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. Since 2020, the number of institutional investors who regard crypto assets as a meaningful investment class has been expanding rapidly. In Japan, Nomura has entered into the crypto asset custody business and Mitsubishi UFJ Trust announced in April 2025 that it plans to begin issuing a stablecoin. We anticipate that the infrastructure for institutional investors in Japan that wish to conduct transactions in crypto assets will continue to improve over time. In North America, beginning in 2021 with the ProShares Bitcoin Strategy ETF, there are now approximately 40 listed exchange -tradedfunds (ETFs) linked to Bitcoin or Ethereum, further confirming institutional adoption of 79 crypto assets as investment vehicles. In addition, traditional financial institutions such as Fidelity Investments and BNY Mellon have both launched crypto custody platform businesses. We believe the entry of traditional institutional investors supports the premise that crypto assets can form part of a diversified asset portfolio to be held over the medium- to long -term. The cryptocurrency markets, although they have been volatile, have grown significantly over