Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 12

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 12
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odial exchanges and platforms to

grow further as the industry develops. If the demand for decentralized exchanges and platforms grows and we are

unable to compete with them, our business may be adversely affected.

If we cannot keep pace with rapid industry changes to provide new and innovative products and services, the use

of our products and services, and consequently our total revenue, could decline, which would adversely impact

our business, operating results, and financial condition.

The crypto asset industry has been characterized by rapid change and the introduction of disruptive

products and services in recent years. These include decentralized applications, DeFi, yield farming, lending,

staking, staking reward programs, token wrapping, governance tokens, innovative programs to attract customers

such as transaction fee mining programs, initiatives to attract traders such as trading competitions, airdrops and

giveaways, and novel cryptocurrency fundraising and distribution schemes. We expect new services and

technologies to continue to emerge and evolve, and they may be superior to, or render obsolete, the products and

services that we currently provide. We cannot accurately predict the effects of new services and technologies on our

business. Our ability to grow our customer base and total revenue will depend heavily on our ability to innovate and

create successful new products and services, both independently and in conjunction with third-party developers, and

we may not be successful doing so timely or all. Further, any new products or services we do offer could fail to

attract customers, generate revenue, or perform or integrate well with third-party applications and platforms. Our

ability to adapt and compete with new products and services may also be inhibited by regulatory requirements or

limitations and general uncertainty in the law, constraints by our banking partners and payment processors, third-

party intellectual property rights, or other factors. Moreover, in addition to product and service innovations, and

potentially as part of developing and offering them, we must continue to enhance our technical infrastructure to

support the required functionality, performance, capacity, security, ease-of-use and speed to attract and retain

customers. We anticipate significant costs and resources to effectively create, develop, enhance and upgrade our

products, services and technical infrastructure to meet the evolving needs of our business and remain competitive. If

we are unable to do so in a timely or cost-effective manner, our business and our ability to successfully compete, our

ability to retain existing customers and attract new customers, may be adversely affected.

Changes in economic conditions and consumer sentiment in Japan could cause demand for our products and

services to