Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 120

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 120
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, which are unadjusted quote prices in active markets that are accessible at the measurement date for identical, unrestricted assets. Crypto Asset Borrowing We enter into contracts to borrow cryptocurrencies from our customers under the Coincheck Lending program. We record “crypto asset borrowings” with respect to our repayment obligation under the contracts. Crypto asset borrowings include all crypto assets which are deposited with the Company under the program regardless of whether the Company utilizes them for its borrowing activities. These crypto assets are recognized as inventories in the consolidated statements of financial position. Crypto asset borrowings are initially measured at the fair value of the crypto assets borrowed/deposited. Subsequent to initial recognition, changes in fair value of crypto asset borrowings are recognized in profit or loss in the corresponding period. In addition, the fee expenses (calculated as in -kindinterest on the amount borrowed) related to crypto asset borrowings are recognized over the borrowing period. Revenue recognition Transaction revenue Transaction revenue from our Marketplace platform business is derived from transactions with customers and cover counterparties. 77 We have a performance obligation to deliver cryptocurrencies for transactions with customers or with cover counterparties. Revenue is recognized at the point of time when performance obligation is fulfilled in accordance with IFRS 15 Revenue from Contracts with Customers. Contracts with customers and cover counterparties to purchase or sell cryptocurrencies are usually open -endedand can be terminated by either party without a termination penalty. Therefore, contracts are defined at the transaction level and do not extend beyond the service already provided. When we receive cryptocurrencies as non -cashconsideration, we measure the received cryptocurrencies at fair value at the time of delivery. We have determined that we act as the principal in such transactions as we have the ability to direct the use of, and obtain substantially all of the remaining benefits from, the cryptocurrencies we hold as inventory before they are transferred to the Company’s customers. Additionally, we are primarily responsible for fulfilling the promise to provide cryptocurrencies to customers on our Marketplace platform pursuant to our terms of service, have inventory risk as we have no right to return unsold cryptocurrencies to the customers or cover counterparties from which we have purchased such cryptocurrencies, and set the price of the cryptocurrencies sold on our Marketplace platform. Changes in Accounting Policies On January 30, 2025, the SEC issued Staff Accounting Bulletin (“SAB”) No. 122 (“SAB 122”). SAB 122 rescinds the interpretive guidance in SAB No. 121, Accounting for Obligations to Safeguard Crypto -Assets an Entity Holds for Platform Users