Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 182

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 182
---
 XLM on Stellar. As future supported blockchains are added, we expect to need to hold ETH (Base) on Base and SOL on Solana in order to
support the conversion of USDC on Base (using ERC-20 standard) and USDC on Solana (using SPL standard) in the future. We expect to continue to grow and expand our services for various stablecoins across different blockchain networks. Please also
refer to “Risk Factors—We hold stablecoins and other digital assets for our business operations and are subject to the risks associated with such digital assets. While we currently hold a de minimis amount of stablecoins and other
digital assets, we expect that the amount of stablecoins and other digital assets we hold will increase with the growth of our payment business in relation to the utilization of our stablecoin solutions.”

Hospitality Products and Services

Our offerings for clients in the hospitality sector include OwlNest, our hotel PMS; and OwlJourney and OwlTing Experiences, which are OTA platforms for hotels and B&Bs and travel activities and experiences packages. In 2018, we introduced OwlNest as an innovative hotel management system that leverages blockchain technology, which now connects
more than 2,500 hospitality providers. By collecting real-time accurate inventory information, the OwlNest system also enables our OTAs OwlJourney and OwlTing Experiences to display the most up-to-date inventory data to the end customers, providing unique value-add to both hospitality providers and end customers. We also provided our self-branded offline
platform service providing accommodation to travelers under OwlStay.

We also provide a suite of services to hospitality sector
clients. Our offerings in OTA, payment, and PMS services help remove complex layers of intermediaries for hospitality providers and provide an overall better experience for both buyers and sellers. Our extensive interaction with hospitality
providers and current

124

intermediaries also provides us with valuable market insight and opportunities to discover and address client needs more quickly than legacy competitors such as channel managers and in-house PMS.

For OwlNest, we operate private self-hosted nodes with consensus mechanism as
proof of authority (“PoA”). We take advantage of the traceability of blockchain and flexibility of smart contract to store and manage data, even though our operations here do not involve digital assets. Our underlying blockchain nodes are
configured using an open-source Ethereum client and consensus protocol. We have control over the protocol on our private nodes, but do not make modifications to the protocol.

A.