Company: OWLS
Filing Date: 2025-09-03
Form Type: F-1
Source: 0001193125-25-195057
Chunk: 165

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-03
Form: F-1
Chunk 165
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 the Virtual Asset Service Provider, or VASP, registration in Poland, and the Electronic
Payment Instrument Service Provider, or EPISP, registration in Japan. We are in the process of applying for MTLs in remaining states in the United States, a fund transfer service license and a stablecoin license in Japan, a major payment institution
license in Singapore and a money service operator license in Hong Kong; and we expect to upgrade the qualification as a Crypto Asset Service Provider, or CASP, under Markets in Crypto-Assets Regulation (MiCAR) in the EU. We also plan to further
expand to Brazil, Argentina and other markets in South America where we could provide virtual asset services without being subject to licensing requirements.

We believe our payment business powered by blockchain technology will be the most significant driver of our future business expansion plans.
Our OwlPayservices have historically been focused on processing transactions in fiat currencies, and our revenues for the years ended December 31, 2023 and December 31, 2024 were not substantially attributable to 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 Harbor and OwlPay Wallet Prowould enhance the
breadth of our OwlPayservices and strengthen our market position in digital asset payment solutions. We further believe our expansion into new products and markets from our current customer-centric businesses will enable us to capture
cross-selling opportunities with our existing relationships in the e-commerce and hospitality industries, and to grow into a comprehensive cross-border payment solution suite and business ecosystem.

For the year ended December 31, 2024, our company’s total revenue was comprised of our operations in the following main business
segments: (i) Payments contributed to 53% of our total revenue; (ii) Hospitality (which include software services and platform services) contributed to 37% of our total revenue; and (iii) E-commerce contributed to 10% of our total
revenue.

Our Development Focus and Target Market

In 2020, the G20 made speed, cost, accessibility and transparency the four challenges faced in business and individual cross-border payments,
as stated in the Enhancing Cross-border Payments – Stage 3 Road Map report by the Financial Stability Board. Currently, cross-border business payments involve complex currency reconciliation processes that require significant investment in
time and resources by a lengthy list of parties involved, including without limitation the payer and payee businesses, merchant