Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 125

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 4
Chunk 125
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 due to oversupply and other factors;
•operating risk: the risk the asset may fail to continue to be available;
•liquidity risk: the risk that holders are unable to transfer or redeem the asset due to low liquidity; and
•other risks that are general to crypto assets or unique to certain assets, including hacking risk, risk of
losing the asset due to falsification of records and reputation risk to us.
Coincheck Staking 
In January 2025 we announced the launch of our “staking” reward program, Coincheck Staking, for 
Ethereum (ETH), from which both we and our customers benefit. Staking rewards are a way for cryptocurrency 
holders to earn more of the same cryptocurrency by actively participating in the blockchain network. By locking up 
their crypto in a dedicated hot wallet, these users help to validate transactions and maintain the crypto network’s 
security. In return, they receive additional cryptocurrency as a reward. We facilitate our customers’ staking of ETH 
via our role as the custodian and account manager for our customers deposited cryptocurrencies and using a third-
party provider’s staking platform service. When the customer’s staking reward is received by us, we pass it through 
to the customer’s account, less our service fee (which we currently share with our third-party staking platform 
service provider). While we currently use a third-party staking platform provider to facilitate our customers’ staking, 
we acquired the staking platform service provider Next Finance in March 2025 for, among other reasons, to be able 
to have our own staking platform and not have to share our service fee with a third-party platform provider. We 

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expect to complete our integration and testing, and be able to provide Coincheck Staking to our customers using our 
own (i.e. Next Finance’s) staking platform service, during the 2026 calendar year.  Coincheck Staking is a separate 
offering from our Coincheck Lending program that is described later in this section. 
If a validator, or our third-party service platform provider, or the ETH smart contracts, fail to behave as 
expected, suffer cybersecurity attacks, experience security issues, or encounter other problems, our customers’ assets 
may be irretrievably lost. In addition, certain blockchain networks dictate requirements for participation in the 
relevant decentralized governance activity, and may impose penalties, or “slashing,” if the relevant activities are not 
performed correctly, such as if the staker