Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 149

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 149
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 and obtain data relevant to the transactions, including the outstanding balance of assets and transaction history. We utilize commercially available services from companies such as TreasureData, Inc. to analyze user data that we obtain from our smartphone application or website. We utilize services and tools of TreasureData, Inc. to analyze the number of active users, rate of users that deposited cash in their accounts and users that have purchased cryptocurrencies. Competition We operate in a highly regulated and competitive market in Japan. Markets relating to crypto assets have been growing quickly and we expect the competitive landscape to continue to rapidly evolve. As of March 31, 2025, there were 28 crypto asset exchange service providers registered with the JFSA in Japan. Our competitors include independent providers in Japan, including bitFlyer, GMO Coin, Bitbank, Mercoin and SBI, as well as providers affiliated with foreign exchanges, including Bit Trade (previously Huobi Japan). In addition, Binance acquired 98 Sakura Exchange Bitcoin in November 2022 to enter the Japanese market and launched its initial services on its platform in August 2023, while Coinbase K.K. and Kraken shut down their services in Japan. We compete on factors including: •the quality of our user interface for both smartphone and PC users; •the security of our platforms and reliability of execution; •our brand strength and reputation; and •innovation to provide additional products and services of interest to our customers. Intellectual Property We strive to acquire intellectual property rights related to the services we operate, and we recognize that the protection of our technology and intellectual property rights is an important aspect of our business. In order to prevent the infringement of not only our own intellectual property rights but also those of third parties, we conduct preliminary investigations throughout our company and with legal counsel. We rely on a combination of trademarks, trade secrets, copyrights, confidentiality procedures, contractual commitments and other legal rights to establish and protect our intellectual property. We generally enter into agreements with our employees and consultants that contain confidentiality provisions to control access to our proprietary information. Regulatory Environment The laws and regulations applicable to our current business and operations are concentrated in Japan. Based on the manner in which we operate our business, as described here and elsewhere in this prospectus, including our account opening procedures, we do not believe that we are operating as an unregistered exchange, broker -dealeror clearing agency in the United States. Overview of Regulatory Framework in Japan Japan has emerged as one of the largest cryptocurrency markets globally and was the first country to establish a regulatory framework for cryptocurrencies