Company: CNCKW
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086398
Chunk: 127

Company: Coincheck Group N.V.
Filing Date: 2025-09-10
Form: 424B3
Chunk 127
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 continue to operate a consistent cycle of innovation and leadership. We believe our brand recognition will be an advantage as we seek to help grow the markets for crypto assets in Japan. Our overall trading volume (Marketplace platform and Exchange platform, combined), 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, then declined with the price decline in Bitcoin and many altcoins, before beginning to generally trend up again starting in early 2024. And while Bitcoin remains the crypto asset most traded in Japan, we appear to have more diverse trading volume compared to the industry average. For example, according to the JVCEA, the average share of Bitcoin trading volume on all domestic platforms and exchanges during the year ended March 31, 2025 was approximately 68%, while the share of Bitcoin trading volume on our Marketplace platform during the same period was approximately 43%. We believe our higher proportion of altcoin trading volume demonstrates the differentiated value of our Marketplace platform. 82 The below graphics further illustrate our overall trading volume, including our overall increasing trend in volume beginning in the fourth quarter of our year ended March 31, 2024: 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 its public disclosure. 83 We have a young, highly-engaged customer base. We believe a key long -termadvantage of our business is our young customer base, with approximately 51% of verified accounts held by customers under 40 as of March 31, 2025. 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 and 50s (approximately 42% of our user base) present a significant growth opportunity as well because they typically have greater assets than our younger users (see “Users by age” graph below). Source: Internal data. We have user-friendly platforms and product offerings. One of our key strengths is our ability to provide not only an intuitive and simple, easy -to -useplatform for first -timeusers who may be inexperienced