Company: OWLS
Filing Date: 2025-08-01
Form Type: DRS/A
Source: 0000950123-25-006894
Chunk: 69

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-08-01
Form: DRS/A
Chunk 69
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 by being operated by a registered broker-dealer as an alternative trading systems (“ATS”) in compliance with rules for ATSs; persons facilitating clearing and
settlement of securities may be subject to registration with the SEC as a clearing agency. Foreign jurisdictions may have similar licensing, registration, and qualification requirements.

We provide on/off-ramp services to our end customers, as well as end customers of third-party wallet providers and financial institutions,
that allow these customers to convert between fiat currencies and stablecoins. We currently support the conversion between fiat currencies and USDC on the blockchains Ethereum, Avalanche, Arbitrum, Polygon and OP Mainnet (all using the ERC-20
standard), as well as USDC on Stellar (using the Stellar Asset standard), and expect to, in the future, support conversion between fiat currencies and other stablecoins including EURC, ZUSD and GYEN. We also provide wallet services that support our
customers to hold these stablecoins. As part of our regular business operations in paying gas fees on behalf of our customers, we also hold and transact in a variety of digital assets, including ETH on Ethereum, AVAX on Avalanche, MATIC on Polygon,
ETH (ARB) on Arbitrum, ETH (OP) on OP Mainnet and XLM on Stellar, and expect to, in the future, hold and transact in ETH (Base) on Base and SOL on Solana. We only provide services to our customers with respect to a stablecoin for which we have
determined that there are reasonably strong arguments to conclude that such stablecoin is not a security and one that could reasonably be expected to comply with the GENIUS Act requirements as a “payment stablecoin.” However, any of our
assessments on any digital asset is a risk-based judgment and does not constitute a legal determination binding on regulators or the courts. There can be no assurance that we will over time properly characterize any given digital asset, product or
service offering as a security or non-security, or that the SEC, a foreign regulatory authority or a court having final determinative authority on the topic, if the question was presented to it, would agree with our assessment.

If an applicable regulatory authority or a court, in either case having final determinative authority on the topic, were to determine that a
stablecoin that we support is a “security,” we may no longer be able to support such stablecoin in our services, as well as other stablecoins or digital assets having similar characteristics, until we are able to do