Company: CNCKW
Filing Date: 2025-07-30
Form Type: 20-F
Source: 0001628280-25-036727
Chunk: 74

Company: Coincheck Group N.V.
Filing Date: 2025-07-30
Form: 20-F
Item: Item 3
Chunk 74
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 purchase and sale by our customers of 30 cryptocurrencies as of March 31, 2025 and the date of

this report. In the years ended March 31, 2023, 2024 and 2025, 98.9%, 99.6% and 99.6%, respectively, of our total

revenue consisted of transaction revenue generated from our Marketplace platform. To support customer acquisition,

retention and activity, we seek to include attractive features in our retail investor offering, including closer interfaces

with certain Web3 businesses which can benefit our customers, that we believe add value or can otherwise

differentiate us, many of which are described below. We also have initiatives, such as our recently launched

“ Coincheck Prime” branded offering, our industry-first IEO platform business and our recently-acquired staking

platform service offering (which we expect will enhance our current staking award offering), that are designed to

increase our appeal to institutional and more sophisticated investors in Japan and to attract other crypto industry

firms to work with us. Part of our strategy is to expand these types of services and initiatives in countries and regions

outside of Japan, primarily through acquisitions, investments, joint ventures or strategic relationships with firms or

businesses in such other countries and regions, which we have been actively exploring since becoming a Nasdaq-

listed company in December 2024. There can be no assurance that any such expansion opportunity we explore will

result in an acquisition or similar transaction, or that if consummated any such acquisition or similar transaction

would be successful.

Our Retail Investor Offering

Marketplace Platform

Our Marketplace platform is our core offering. Our user-friendly smartphone application, which is what

most of our customers use, allows for comprehensive yet easy-to-use functionality for beginning and less-

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experienced customers. Our more experienced traders may also use the smartphone application or our more feature-

rich web browser-based interface.

For customer purchase and sale transactions, Coincheck is always the seller to, and buyer from, the

customer, and its compensation is in the form of a price spread. The spread we set is generally in a range of 0.1% to

5.0% of the transaction’s asset value, and can change from time to time. We make this determination by considering

prevailing market conditions with respect to a cryptocurrency, including competitors’ offers. We may increase a

spread when there is sudden market movement and shortage of liquidity. While Coincheck does not charge