Company: OWLS
Filing Date: 2025-09-24
Form Type: F-1/A
Source: 0001193125-25-213968
Chunk: 169

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-24
Form: F-1/A
Chunk 169
---
 the total available market size for B2B payments is significant and rapidly
expanding as trends towards digitization broaden access to more users. By offering modernized, streamlined end-to-end payment solutions, we believe that we are
well-positioned to capitalize on our early mover advantage in the blockchain-enabled payment industry to capture a meaningful share of the growing B2B and B2C markets.

While traditional trade corridors between major economies (e.g., U.S.-China, U.S.-EU, intra-EU)
continue to have large cross-border transaction volumes due to established trade relationships, payment flows in emerging markets like Latin America are experiencing strong growth and becoming increasingly prominent. We are prioritizing commercial
development in these high growth markets by seeking to obtain regulatory licenses and approvals for U.S.-Japan B2B and B2C, as well as U.S.-LATAM B2B, B2C and cross-border remittance.

The Latin American digital payment market grew from US$89 billion in 2017 to US$215 billion in 2021 according to a report by the
International Monetary Fund. By 2025, alternative payment methods in Latin

112

America, such as virtual wallets and bank transfers, are expected to reach an e-commerce turnover of US$138 billion according to Americas Market
Intelligence, and Latin American cross-border e-commerce volume is forecast to reach US$95 billion according to PagSeguro’s Digital Renaissance’s Latin America report. According to these
reports, the Latin American market represents a strong area of opportunity for companies that are early movers.

Japan’s B2B payment
market is also expected to grow rapidly, at a CAGR of 9% during the 2024-2034 period according to Imarc Impactful Insights. In 2021, the B2C segment of the e-commerce in Japan market accounted for
US$188.1 billion and by 2021 Japan was the fourth largest e-commerce market in the world, according to the International Trade Administration. Japanese cross border
e-commerce purchases from the United States were estimated at US$3.1 billion in 2021, marking an increase of 9.1% from 2020 according to the International Trade Administration. The market growth and
change are being propelled by the ongoing digital transformation of the payment space and the increasing adoption of digital payment methods, including online payment portals and digital wallets.

Fast-Growing Addressable Payments Markets: Cross-Border C2C Remittance

OwlPay also