Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 167

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 167
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 individual customers to receive and send money both domestically and internationally within minutes, with stablecoins over the public blockchain ledgers
Ethereum, Avalanche, Polygon, Optimism, Arbitrum and Stellar. OwlPay Wallet Pro provides both business and individual customers with the services of on/off-ramping in conversion between USDCs and U.S. dollars. For business customers that wish
to leverage USDC, OwlPay Wallet Prooffers on/off-ramping capabilities via wire transfers and ACH. For individual customers, leveraging our partnership with MoneyGram, OwlPay Wallet Proprovides on/off-ramping capabilities via cash.
All transactions are within standard security and compliance infrastructure on par with a traditional financial institution. To make transactions more convenient for customers on supported blockchains, we handle the payment of the gas fees incurred
on these blockchains on behalf of the customers for certain types of customers and transactions, so that these customers do not need to hold the native digital assets of the transaction chain. We plan to expand OwlPay Wallet Pro services to support
more blockchains, including Base and Solana and diversify our stablecoin offering, including EURC, ZUSD and GYEN to enable customers to execute foreign exchange transactions using stablecoins in the future. After the integration of OwlPay and
OwlPay Wallet Pro, customers will be able to access various fiat currency and stablecoin payment options and perform these payment transactions on a single platform.

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 30 states in the United States and the Virtual Asset Service Provider, or VASP, registration in Poland. We are also in the process of preparing for applications for a bank API license, 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 will be the most significant driver of our future business expansion plans. We 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