Company: CNCKW
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086398
Chunk: 147

Company: Coincheck Group N.V.
Filing Date: 2025-09-10
Form: 424B3
Chunk 147
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 would first attempt to use our Exchange platform, or other OTC counterparties that are capable of netting settlement, to execute cover transactions. If we determine no such alternatives are feasible for a particular crypto asset, we would then temporarily suspend trading of the crypto asset. With respect to risk management specifically with respect to crypto asset deposits we make with Binance in our cover counterparty relationship, in December 2022 we added a function to our internal system in the form of a Coincheck -initiatedimmediate withdrawal process on our administrator screen. This withdrawal process allows us at our discretion to initiate the withdrawal of the balance of our crypto assets deposited with Binance. As of March 31, 2025, Binance has a daily withdrawal limit of $160 million USD (approximately ¥25.5 billion based on exchange rates as of March 31, 2025), and the value of our crypto assets held on deposit with Binance as of March 31, 2025 is ¥129 million. Under our current internal practices, total assets held on deposit with Binance cannot exceed ¥300 million (approximately $2.0 million based on exchange rates as of March 31, 2025). We are not subject to any other restrictions with respect to this withdrawal process. However, it is possible that Binance could fail to, or be restricted from, fulfilling our withdrawal requests. There is not a similar immediate withdrawal process in place for other cover counterparties (other than Binance) because we believe that the amount of crypto assets deposited with other cover counterparties, and after taking other relevant facts or factors concerning those cover counterparties into consideration, do not warrant such a system at this time, but should that change with respect to another cover counterparty we may decide to set up a similar immediate withdrawal process. Our Customers We only offer accounts for crypto asset marketplace services to customers resident in Japan. In particular, we appeal to a younger demographic, with approximately 51% of verified accounts held by customers under 40 as of March 31, 2025. Account Opening Procedures A potential customer who wishes to access our platforms (including the Marketplace platform and Exchange platform) is required to have an active account with Coincheck. The potential customer is required to accept the terms and conditions provided (“Terms of Service”) when opening an account. Any changes made to the Terms of Service are provided to customers either via email or by posting on our website and the customer demonstrates acceptance of the modified terms (and is bound by the modified Terms of Service)