Company: OWLS
Filing Date: 2025-08-01
Form Type: DRS/A
Source: 0000950123-25-006894
Chunk: 174

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-08-01
Form: DRS/A
Chunk 174
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 support sending,
receiving, and holding stablecoins, including USDC, EURC, ZUSD, and GYEN. For unhosted wallets, users can also send, receive, and hold native digital assets such as ETH on Ethereum, AVAX on Avalanche, and MATIC on Polygon. Our wallet services allow
businesses and individuals to transfer funds within minutes across the globe, all within standard security and compliance infrastructure on par with a traditional financial institution. To enhance the convenience of transactions for our customers,
we handle the payment of the gas fees for hosted wallet customers for supported blockchains and the payment of the gas fees for unhosted wallet customers on Stellar, so that our customers do not need to hold the native digital assets corresponding
to the transaction chains. We charge business customers for our hosted wallets on initial setup fees and recurring monthly maintenance fees, utilizing differential pricing strategies tailored for the needs of our clients. Conversely, we offer free
access for individual customers to our unhosted wallets.

B. Stablecoin On/off-ramp Services

Our on/off-ramp services provide customers with the functionality to exchange between fiat currencies and stablecoins in both
directions. We have developed in-house capability to facilitate the conversion from fiat currency via wire or ACH to USDC, and vice versa. We have also entered into collaborations with MoneyGram in December 2024 to enhance the wallet’s bankless
on/off-ramp capabilities allowing our customers in 41 countries to access on-ramp services converting local fiat currencies to USDC and customers in 176 countries to access off-ramp services converting USDC to local fiat currencies by leveraging
more than 430,000 MoneyGram locations worldwide. In May 2025, we started working with MoonPay to enable our customers to access on-ramp services that allow conversion to USDC via credit card. See “—Our Third-Party Collaborations.” We
charge fixed-amount, per-transaction handling fees, while the percentage-based transaction fees for conversion from between USDC and fiat currency would contribute to the bulk of our revenue in stablecoin on/off-ramp operations. The transaction fees
for conversion are calculated as the transaction amount multiplied by an agreed-upon percentage rate with customers. The transaction fees percentage rates for stablecoin on/off-ramping are determined based on the costs of transactions in each region
while also referencing the prices set by industry peers. The transaction fees are retained in the applicable fiat currency.

C. USDC Cross-chain Solution

With the rise of various