Company: OWLS
Filing Date: 2025-09-24
Form Type: F-1/A
Source: 0001193125-25-213968
Chunk: 173

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-24
Form: F-1/A
Chunk 173
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, thereby extending the everyday utility of stablecoins in retail and
consumer payments. We also plan to provide Wallet-as-a-Service (WaaS), allowing enterprises to customize and deploy wallets for their end users. We hope the multi-layered go-to-market strategy of our payment- and digital assets-related services and
capabilities would position us well for converting our early mover advantage into market presence. While no revenues for the years ended December 31, 2023 and December 31, 2024 were generated from OwlPay Harborand OwlPay Wallet Pro, as we continue to roll out OwlPay Harborand OwlPay Wallet Proand expect market adoption of stablecoins to increase, we believe OwlPay Harborand OwlPay Wallet Prowould enhance the breadth of our OwlPayservices and strengthen our market position in digital asset payment solutions.

Payment service is subject to a stringent regulatory
regime and the license application process could be time-consuming and expensive. As an early mover in blockchain-based payment services, we have obtained licenses, made license applications and/or entered
into agreements with payment service providers that hold the required credentials in jurisdictions where we have operations. We are currently applying for new or additional licenses in the United States, Japan, Singapore and Hong Kong, and preparing
to further expand to cover other regions including the EU and Latin America. In particular, we have completed the MSB registration with the U.S. federal government, and we have obtained the MTLs from a total of 35 states in the United States, the
VASP registration in Poland, and the EPISP registration in Japan. For further details, see “— Regulations.” To illustrate, for a business customer in Florida paying its vendors in Japan, it can exchange U.S. dollars to
Japanese Yen and complete the cross-border payout to its vendors in Japan, all done with one stop through OwlPay Payment. Alternatively, the Florida business may also apply for a hosted wallet through OwlPay Wallet Proand
choose to send via USDC: it can on-ramp its U.S. dollars and convert into USDC, and send USDC to its vendors in Japan at the vendors’ wallet. Similarly, an individual customer in Florida may apply for an
unhosted wallet through OwlPay Wallet Proand on-ramp U.S. dollars to USDC and make payments to the business’s wallet. When we release our off-ramp service in Japan in the future, these vendors in Japan will also be able to use our
services to receive and/or off-r