Company: OWLS
Filing Date: 2025-08-01
Form Type: DRS/A
Source: 0000950123-25-006894
Chunk: 169

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-08-01
Form: DRS/A
Chunk 169
---
 channel
management and avoid double booking. As of December 31, 2024, we served more than 2,500 hospitality providers on OwlNest.

Our Platform in Business Services

We believe our experience with the e-commerce and hospitality sectors has the potential to provide a
network of established customers and market players who are an initial market for our payment products and services.

114

We believe this will allow us to expand faster and at lower cost than entities that lack an established customer base. We aim to build an expanded platform of products and services to meet the
needs of our business clients and capture more of the value chain. We have built a substantial client base through our hospitality, e-commerce and blockchain services offerings, including OwlNest,
OwlTing Market, OwlJourney and OwlTing Experiences. Through our interaction with our business clients, we have a better chance in gaining insights into their business and operational needs.

In 2023, we launched OwlPay, our integrated payment solutions, to benefit the business customers in our existing operations, including
our customers in the hospitality sector, by reducing and/or eliminating manual processes and complexity from accepting end-consumer payments and paying out suppliers. We believe the combination of our various
service offerings will create the potential for a diverse and recurring revenue stream through our payment business, where payment volume is endogenously generated and captured within our OwlTing Group ecosystem.

OwlPay’s Competition

OwlPayis designed to tackle the continuously evolving global payments environment. By offering a regulated, secured payment platform
that combines multiple solutions in fiat and stablecoin, we believe that we are well-positioned to utilize our competitive advantages and meet the needs of today’s business payments. However, we do face significant competition from existing and
potential players.

The traditional payment ecosystem consisting of banks and credit card networks – despite having certain
disadvantages in speed, accessibility, transparency and cost – continues to be a large and established payment ecosystem. We may face competition from participants in the traditional payment ecosystem, including merchant banks, correspondent
banks, credit card networks and card issuing banks. However, as a payment platform, we may also collaborate with those incumbents in the traditional payment ecosystem: for example, we collaborate with banks to provide business customers using the
bank’s payment route with a more comprehensive and user-friendly payment management and payout solution. We also expect to provide certain of our solutions under OwlPay to banks and credit card network intending to leverage stablecoin
payments, such as white label