Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 173

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 173
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 have obtained licenses, made license applications and/or entered into agreements with payment service partners that hold the required credentials in jurisdictions where we have operations. We are
currently applying for new or additional licenses in the United States, Japan, Singapore and Hong Kong, and preparing to further expand to cover other regions including the EU and Latin America. In particular, we have completed the MSB registration
with the U.S. federal government, and we have obtained the MTLs from a total of 30 states in the United States and the VASP registration in Poland. For further details, see “— Regulations.” To illustrate, for a business client in
Florida paying its vendors in Japan, it can exchange U.S. dollars to Japanese Yen and complete the cross-border payout to its vendors in Japan, all done with one stop on the OwlPay platform. Alternatively, the Florida business may also choose
to send via USDC: it can on-ramp its U.S. dollars and convert into USDC, and send USDC to its vendors in Japan at the vendors’ wallet. When we release our off-ramp service in Japan in the future, these
vendors in Japan

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will also be able to use our services to receive and/or off-ramp the received stablecoin to Japanese Yen and deposit to their bank accounts.

We have built partnerships with a range of established business partners in the payment industry, including Circle, Coinbase Prime, Bridge
XYZ, MoneyGram, VISA and NIUM, with whom we can integrate our services with a wide range of payment solutions. See “—Our Partnerships.” For more details of our payment solutions, see “— Our Current Products and Services
— Payment Products and Services.” We are also actively seeking to expand our payment network with additional settlement partners. NIUM is a payment service provider headquartered in Singapore with a global footprint, and helps
OwlPay with implementing domestic and international payout services, supporting customers in funding with 6 different fiat currencies, and assisting in converting these into over 40 currencies, allowing payments to be made to more than 220
regions. Circle is a global financial technology firm headquartered in the United States, and we can utilize stablecoin for payout worldwide through Circle. We also work closely with the credit card networks, such as VISA, to provide virtual card
solutions and instant card account payment.

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