Company: OWLS
Filing Date: 2025-08-01
Form Type: DRS/A
Source: 0000950123-25-006894
Chunk: 167

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-08-01
Form: DRS/A
Chunk 167
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 Stellar Network, allowing us to reach out to new customers on the Stellar network. See “—Our Third-Party Collaborations.”

While leading payment companies and merchant settlement firms are now using stablecoin to solve real-world pain points in payment, we believe
OwlPay is one of the first movers in this space and has successfully developed of a platform using stablecoin as an efficient means of settlement for our primary customers, such as international
e-commerce platforms and OTAs. Under OwlPaysuites, our customers can access various fiat currency and stablecoin payment options and perform these payment transactions through various products.
Combining traditional fiat currency and credit card solutions with an advanced stablecoin transaction infrastructure in one offering, OwlPay aims to serve as a full-stack payment suite that empowers the users with the flexibility to choose
the payment method that best suits their needs, and the liberty to switch from processing transactions with fiat currency to stablecoins. By leveraging our early mover advantages, we believe we are well-positioned to capture the opportunity for
blockchain-based payment services and expand our customer base in the underserved market.

Our Global Licensing Infrastructure

Many of the governments and financial authorities around the world have developed regulatory frameworks for the payment industry,
which could be complicated to navigate and may continue to evolve. We have set out to build a global licenses portfolio, including the MSB registration with the U.S. federal government, the MTLs from a total of 35 states in the United States that we
have obtained, the VASP registration in Poland and the EPISP registration in Japan. We have been making applications for the payment-related licenses in stages and have invested over three years in building our current license portfolio. We have
also developed and invested in our business to meet various requirements for obtaining and maintaining these payment-related licenses,

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including bonding, minimum capital and net worth requirements, staffing of qualified professionals and development of suitable internal controls and reporting and recordkeeping mechanisms. For
more details, see “—Regulations.”

We are also in the process of applying for and obtaining additional relevant licenses in
jurisdictions including the remaining states of the United States, Japan, Singapore and Hong Kong, expect to upgrade the qualification as a CASP in the EU, and are preparing to further expand our license portfolio to cover other regions including
Latin America. Preparation and the application process for these payment-related licenses often take considerable amount of time and effort. We have been coordinating and building internal resources among our legal, compliance, finance and R&D