Company: CNCKW
Filing Date: 2025-04-10
Form Type: 424B3
Source: 0001213900-25-030417
Chunk: 175

Company: Coincheck Group N.V.
Filing Date: 2025-04-10
Form: 424B3
Chunk 175
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, respectively, which may be changed in the future subject to approval by our executive officers. The fee is paid to the user together with the return of the borrowed crypto assets at the expiration of the lending period. As of December 31, 2024, we had 116 ¥54,971 million in crypto asset borrowings, an increase from ¥44,020 million in crypto asset borrowings as of March 31, 2024, and the top ten lenders accounted for 11% of our crypto asset borrowings as of December 31, 2024. Under the borrowing agreements, there is no restriction on our use of the borrowed crypto assets during the relevant lending period. As of December 31, 2024, we held ¥55.3 billion of crypto assets in current assets, of which ¥50.8 billion were held in cold wallets, ¥3.8 billion were held in our hot wallets and ¥0.7 billion were deposited with counterparties. Coincheck Electricity and Coincheck Gas Coincheck Electricity is an electricity service we provide that offers two rate plans: a “Bitcoin payment” plan that allows customers to pay their electricity bills with Bitcoin, and a “Bitcoin grant” plan that gives customers Bitcoin after payment of electricity bills. We also offer Coincheck Gas, which operates in a similar manner to Coincheck Electricity to allow customers to pay gas bills. Coincheck NFT Marketplace A non -fungibletoken (“NFT”) is a digital item that is unique and non -interchangeable, unlike Bitcoin. In recent years, NFTs have been attracting attention not only as a means of exchanging items in blockchain games, but also to prove ownership of artwork and to appeal to fan communities. See “ —Regulatory Environment — Non -FungibleTokens” for information regarding the regulation in Japan for non -fungibletokens. Our Coincheck NFT Marketplace, the beta version of which began operations on March 24, 2021 and is offered only to Coincheck accountholders who submit an application, was the first off -chainNFT exchange platform in Japan operated by a crypto asset exchange company on which customers can buy and sell NFTs. Through the Coincheck NFT Marketplace, we handle NFTs that are popular globally, including The Sandbox, a blockchain game funded by Softbank’s Vision Fund 2, and Meebits, created by Larva Labs, the developer of CryptoPunks, one of the world’s most popular NFT projects. When