Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 180

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 180
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, provides a hosted wallet for businesses and unhosted wallet to individuals that support holding
stablecoins. OwlPay Wallet Pro allows, or will enable, businesses and individuals to transfer funds within minutes across the globe, including on/off-ramping in conversion between USDC and U.S. dollars through wire transfers, all within
standard security and compliance infrastructure on par with a traditional financial institution. 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. As our services expand, we plan to support stablecoins of EURC, ZUSD, and GYEN in the future.

– 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 partnered with a USDC issuer, digital assets exchanges, or settlement providers, such as Circle, Coinbase Prime and Bridge XYZ, to facilitate the conversion from fiat currency via wire or ACH to USDC, and vice versa. We have also
entered into partnership with MoneyGram in December 2024 to enhance the wallet’s bankless on/off-ramp capabilities allowing our customers to cash in for converting local fiat currencies to USDC in over 30 countries and cash out from USDC to
local fiat currencies in over 170 countries by leveraging more than 430,000 MoneyGram locations worldwide. See “—Our Partnerships.” Our on/off-ramp services will help clients navigate the
technical process of transforming funds across fiat currency and USDC, as well as meeting regulatory compliance requirements. 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. We are further rolling out, and expect to complete in the first quarter of 2025, our on/off-ramp service route that directly connects with the USDC issuer Circle and the digital assets exchange Coinbase Prime, through which
we hope to be able