Company: CNCKW
Filing Date: 2025-01-28
Form Type: F-1
Source: 0001213900-25-007203
Chunk: 167

Company: Coincheck Group N.V.
Filing Date: 2025-01-28
Form: F-1
Chunk 167
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 crypto assets in Japan. Our overall marketplace trading volume, and in particular our altcoin trading volume, grew dramatically as the global crypto asset industry saw growth in asset prices and trading volumes in 2021. During 2022, however, there were significant declines in the value of Bitcoin and many other crypto assets traded on our Marketplace platform and we have seen a declining trend in trading volume since then. The average share of trading volume of Bitcoin on all domestic platforms and exchanges during the six months ended September 30, 2024 was approximately 76% according to the JVCEA, while the share of trading volume of Bitcoin on our marketplace (excluding our exchange) during the same period was approximately 47%. Our high proportion of altcoin share, which is significantly higher than the industry average in Japan, demonstrates the uniqueness of our Marketplace platform and provides benefits for our profitability and customer stickiness. 112 The below graphics further illustrate our overall trading volume, as well as trading volume composition as a result of our unique cryptocurrency composition: Source:Internal data. Source:Amounts for Coincheck represent trading on our Marketplace platform, amounts for Japan are derived from JVCEA data that include all types of exchanges, and amounts for Coinbase are taken from their public disclosure. 113 We have a young, highly-engaged customer base. We believe a key long -termadvantage of our business is our young customer base, with approximately 52% of verified accounts held by customers under 40 as of September 30, 2024.Our platform strongly aligns with our user base and with products and services that cater to a young demographic. As our users mature and grow their financial assets over time, we expect them to likewise grow their crypto assets with us. We also expect to deepen our relationships with our customers as we continue to innovate and launch more services to provide for their changing needs. Our customers in their 40s present a significant growth opportunity as well because they typically have greater assets and trade more frequently than our younger users. The below graphics illustrate our users by age as of September 2024: Source:Internal data. Our user-friendly platform and product offerings. One of our key strengths is our ability to provide not only an intuitive and simple platform for first -timeusers who may be inexperienced in crypto asset trading, but also offer robust features for more experienced users through a web browser platform. As of September 30, 2024, our easy -to -usesmartphone trading application was being used by over 90% of our