Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 158

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 158
---
 contributes to greater acceptance of crypto assets by Japanese individuals and places domestic exchanges in an advantageous position. 103 Our Strengths We have a leading position in the Japanese retail market. As of December 31, 2024, we had a significant share of the Japanese market, with 18.6% of domestic verified accounts, based on data provided by the JVCEA: Source:Created by us based on public information made available by the JVCEA. Our product and business strategy is driven in large part by our customer demographics, with broad token coverage, NFT support, and Web3 all appealing to millennials and later generations. One of our founding missions is to provide enhanced products and services to digital/mobile -nativeusers in the crypto market. We provide our young, loyal retail customer base with exposure to crypto assets via a user -friendlycrypto trading marketplace, mobile -nativeuser interface (app), seamless KYC onboarding and a dedicated NFT marketplace. Our strong market position facilitates further brand recognition which helps us attract not only users, but also engineers and product developers. This allows us to continue to operate a consistent cycle of innovation and leadership. We also believe this brand recognition will be an advantage as we seek to develop the institutional market for crypto assets in Japan. Our overall marketplace trading volume, and in particular our altcoin trading volume, grew dramatically as the global crypto asset industry saw growth in asset prices and trading volumes in 2021. During 2022, however, there were significant declines in the value of Bitcoin and many other crypto assets traded on our Marketplace platform and we have seen a declining trend in trading volume since then. The average share of trading volume of Bitcoin on all domestic platforms and exchanges during the nine months ended December 31, 2024 was approximately 71% according to the JVCEA, while the share of trading volume of Bitcoin on our marketplace (excluding our exchange) during the same period was approximately 43%. Our high proportion of altcoin share, which is significantly higher than the industry average in Japan, demonstrates the uniqueness of our Marketplace platform and provides benefits for our profitability and customer stickiness. 104 The below graphics further illustrate our overall trading volume, as well as trading volume composition as a result of our unique cryptocurrency composition: Source:Internal data. Source:Amounts for Coincheck represent trading on our Marketplace platform, amounts for Japan are derived from JVCEA data that include all types of exchanges, and amounts for Coinbase are taken from their public disclosure. 105 We have a young,