Company: OWLS
Filing Date: 2025-08-01
Form Type: DRS/A
Source: 0000950123-25-006894
Chunk: 63

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-08-01
Form: DRS/A
Chunk 63
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/off-ramp and cross-chain transactions—to third-party wallet providers, financial institutions, and platform
operators requiring cross-border payment solutions, various front- and back-end technical and development work is needed to implement our wallet, custody, transfers and other customer solutions for our
supported digital assets and integrate such supported digital assets with our existing technical infrastructure. Our wallet product and service currently supports holding, transferring and on/off-ramping of USDC. Certain digital assets require a
significant amount of development work and successful integration with any existing or future digital asset is not guaranteed. Additionally, we may experience from such integration software errors or weaknesses within our products, including our
existing technical infrastructure. Technical changes, software upgrades, soft or hard forks, cybersecurity incidents or other changes to the underlying blockchain network could also occur from time to time and result in incompatibility, technical
issues, disruptions or security weaknesses to our products. If we cannot successfully identify, troubleshoot and resolve any such issues, we may fail to support such digital asset, our customers’ assets may be frozen or lost and our products
and technical infrastructure may be affected, all of which could adversely impact our business.

We hold stablecoins and other digital assets for our business operations and are subject to the risks associated with such digital assets. While we currently hold a de minimis amount of stablecoins and other digital assets, we expect that the amount of stablecoins and other digital assets we hold will increase with the growth of our payment business in relation to the utilization of our stablecoin solutions.

We hold
stablecoins and other digital assets for our business operations and may start holding stablecoins for our customers in the future as a result of further growth of our OwlPayservices. Under GENIUS Act, a person may only provide custodial or
safekeeping services for payment stablecoin reserves, payment stablecoins used as collateral, or private keys used to issue payment stablecoins if they register with and are subject to certain supervision by applicable regulators in the United
States. Under CLARITY Act, it is also expected that custodying digital commodities in many circumstances would trigger requirements to register with applicable regulators in the United States. Our business operations could become subject to such
registration requirements and supervision by various regulators, subject to the specific rules promulgated under these Acts, and our business and financial performances could be adversely affected by additional compliance burdens and costs.

We may own stablecoins for our own account as a part of our
day-to-day operations for our payment services. While we have been collaborating