Company: CNCKW
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086398
Chunk: 137

Company: Coincheck Group N.V.
Filing Date: 2025-09-10
Form: 424B3
Chunk 137
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 of the amount borrowed. All cryptocurrencies we support are eligible, and the program is entirely voluntary. Coincheck is not obligated to make any borrowing a customer has authorized. Upon expiration of the pre -selectedauthorized borrowing period, Coincheck returns the borrowed cryptocurrencies, including the customer’s fee, in kind. The customer’s fee is paid only on the borrowed customer crypto assets during the time they are held in Coincheck’s segregated hot wallets, regardless of the amount the 90 customer has authorized to be borrowed. A customer’s authorized loan size for a cryptocurrency is limited by the amount of such cryptocurrency the customer has deposited with us. As of March 31, 2025, 5.5% of customer cryptocurrency assets were authorized to be borrowed under Coincheck Lending and, at such date, we had borrowed (by holding them in Coincheck hot wallets) approximately 0.6% of total customer cryptocurrencies. Our Coincheck Lending program is in keeping with the provisions of the Cabinet Office Ordinance on Crypto Asset Exchanges and was launched after we consulted with the JFSA. Customers can participate in Coincheck Lending in amounts greater than ¥10,000 of equivalent value in the cryptocurrency being loaned, and select lending periods of 14 days, 30 days, 90 days, 180 days and 365 days, at an implied yield (a fee amount in the same cryptocurrency loaned) of 1%, 2%, 3%, 4% and 5% per year, respectively, which we may change from time to time for new loans. As of March 31, 2025, we had ¥44,479 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 March 31, 2025. Under the borrowing agreements, there is no restriction on our use of the borrowed crypto assets during the relevant lending period. Coincheck Lending has two business objectives. One, is to be able to facilitate more promptly the settlement of customer transactions and the completion of transfer requests. Because our customers’ cryptocurrencies are held in custody in segregated cold wallets, they are not accessible for immediate settlement of trades or transfers out of customer accounts. We therefore borrow certain amounts for deposit in our hot wallets to be able to facilitate more prompt settlement. Our other objective is the fee offered to customers, which we view as another account benefit