Company: CNCKW
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086398
Chunk: 131

Company: Coincheck Group N.V.
Filing Date: 2025-09-10
Form: 424B3
Chunk 131
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 other service fees. We also provide this information via our website and smartphone application. The trading operations system behind our platform screens is designed to limit our price -riskexposure regarding our buy and sell transactions with our customers by matching corresponding buy and sell orders to offset open positions. Under Coincheck’s terms of service, a customer’s order is locked -inimmediately upon the customer’s acceptance of the quoted price and cannot be changed or canceled after that point. After we accept a customer’s sale or purchase order for a particular crypto asset, our system will: •first seek to match and offset the user’s buy order with a corresponding sell order of another user, or vice versa, by searching for that availability or liquidity across order positions held by our customers on our platforms (first, within our Marketplace Platform, then our Exchange platform); •if the matching of a buy or sell order is not 100% completed, our system compares our total exposure to the subject cryptocurrency against policy thresholds we have set for such exposure, which as of March31, 2025 range from -¥20 million to ¥40 million for Bitcoin and from ¥1.5 million to ¥20 million for other cryptocurrencies we support; and •if our policy threshold for exposure is exceeded because there was insufficient liquidity on our Exchange platform, execute a hedging or cover transaction with respect to the subject cryptocurrency on another cryptocurrency exchange. Our system technology’s search and matching capabilities are designed to achieve near -simultaneousexecution of both sides of each trade or transaction to substantially eliminate our risk as the buyer and seller for customers’ trades. Exchange Platform Our Exchange platform is targeted at more experienced and institutional users who are interested in trading larger amounts, and also provides additional liquidity to support the fulfillment of customer orders made on our Marketplace platform. Our Exchange platform is operated via a web browser -basedversion of our software that we believe gives more experienced and sophisticated users a higher level of functionality to access deep markets in select cryptocurrencies. The Exchange platform works as follows: Order books are created where sellers and purchasers share their respective trading prices, and once orders with similar trading prices and conditions are matched, these transactions are promptly executed and settled. Under our terms of service, a sales contract binding on both parties is formed as soon as a match is completed. Our Exchange platform supports direct purchase and sale transactions between users for 20 cryptocurrencies as of March 31, 2025 and the date of this prospectus. We historically have not charged fees or commissions for the use of, or transactions completed on