Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 170

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 170
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, and Latin American cross-border e-commerce volume is forecast to reach
US$95 billion according to PagSeguro’s Digital Renaissance’s Latin America report. According to these reports, the Latin American market represents a strong area of opportunity for companies that are early movers.

Japan’s B2B payment market is also expected to grow rapidly, at a CAGR of 9% during the 2024-2034 period according to Imarc Impactful
Insights. In 2021, the B2C segment of the e-commerce in Japan market accounted for US$188.1 billion and by 2021 Japan was the fourth largest e-commerce market in
the world, according to the International Trade Administration. Japanese cross border e-commerce purchases from the United States were estimated at US$3.1 billion in 2021, marking an increase of 9.1% from
2020 according to the International Trade Administration. The market growth and change are being propelled by the ongoing digital transformation of the payment space and the increasing adoption of digital payment methods, including online payment
portals and digital wallets.

Fast-Growing Addressable Payments Markets: Cross-Border C2C Remittance

OwlPay also provides individuals with the ability to transfer funds cross-border within minutes with stablecoins. We believe that the
remittance market, which represents C2C payments, also plays an important role in the global payment ecosystem. The global remittance market was valued at US$50 billion in 2023, growing at a CAGR of 10.5% from 2024 to 2033. The market is
expected to reach US$135.7 billion by 2033 according to The Brainy Insights.

Despite this growth, we believe customers view
cross-border remittances as remaining prohibitively expensive due to limited competition among providers and inadequate cross-border interoperability of legacy systems. According to the World Bank Group, in the fourth quarter of 2023, the average
cost of sending US$200 globally was 6.4% of the amount being sent. Remittance flows are primarily driven by activity in advanced economies, with the United States being the largest source of remittances worldwide, particularly to low- and middle-income countries. Also according to the World Bank, remittance to Latin America and the Caribbean were US$142 billion in 2022. Migration trends and geopolitical influences will continue to fuel
growth in the Latin American market. The inefficiencies in the cross-border remittance market present a compelling