Company: OWLS
Filing Date: 2025-09-03
Form Type: F-1
Source: 0001193125-25-195057
Chunk: 10

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-03
Form: F-1
Chunk 10
---
end-users and make payments to vendors, with the flexibility to settle transactions in either fiat currency or USDC and enables individuals a simpler, more convenient and faster way to perform cross-border transactions and remittances.

According to CB Insights’ latest Stablecoin Market Map, OwlTing is ranked among the top 2 global players in the “Enterprise &
B2B” category, earning a high Mosaic score of 832—underscoring its leadership in blockchain-powered financial infrastructure for businesses. OwlPay for its business customers supports B2B stablecoin transactions via a hosted
wallet infrastructure and a comprehensive suite of services, including stablecoin payment gateway services, on/off-ramp capabilities, cross-chain transfers and payout services. These services enable key use cases such as e-commerce payments,
cross-border remittances, payroll, and treasury management. The Mosaic score—CB Insights’ proprietary metric evaluating market opportunity, momentum, and financial strength—highlights OwlTing’s strong market positioning and
growth potential in the enterprise stablecoin ecosystem.

OwlPay continues to build multi-jurisdictional capabilities and aims to
expand its service offerings internationally. For example, we currently hold money transmitter licenses, or MTLs, in 35 states in the United States and 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 OwlPay services 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 Pro and expect market adoption of stablecoins to increase, we believe OwlPay Harbor and OwlPay Wallet Pro would
enh