Company: CNCKW
Filing Date: 2025-08-29
Form Type: POS AM
Source: 0001213900-25-082038
Chunk: 141

Company: Coincheck Group N.V.
Filing Date: 2025-08-29
Form: POS AM
Chunk 141
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PSA) as described under “— Regulatory Environment — Regulations on Crypto Asset Exchange Service.” Those regulations require segregation of customer cryptocurrencies from our own inventory and our policy is for substantially all crypto assets (other than cryptocurrencies held by us under our Coincheck Lending and Coincheck Staking programs or deposited with counterparties, and NFTs) to be held in secure cold wallets to minimize security risks of loss from cybersecurity attacks and similar incidents. We do not use borrowed crypto assets for proprietary trading or to enter into unhedged positions. Also, funds (fiat) deposited with us by our customers are managed separately from our own funds through trust accounts with JSF Trust and Banking Co., Ltd. The proportion of cryptocurrencies we hold in cold wallets, hot wallets or on deposit with cover counterparties depend on regulatory requirements or guidelines regarding cold wallet storage, the amount of customer transactions driving the need to facilitate prompt execution through the use of hot wallets, and the credit levels of external exchanges. As earlier mentioned, most of our customers’ cryptocurrencies (usually over 90%) are held in cold wallets, and our policy target is that no more than 5% be held at any given time in hot wallets. Our Accounting & Finance Department is responsible for monitoring and determining the appropriate allocation, and our Dealing Department is then responsible for managing what amount of cryptocurrencies to borrow, hold in hot wallets and to deposit with cover counterparties. The Marketplace platform displays quotes for the cryptocurrency pricing (which includes Coincheck’s spreads). Once Marketplace platform customers’ orders are executed, the transaction is then reflected in the customer account, and we withdraw or deposit the crypto assets sold or purchased from or in the segregated cold wallets we maintain for custody of customer assets, normally within 24 hours from execution of the transaction. We may utilize crypto assets being held by us in our hot wallets that we have borrowed from customers under our Coincheck Lending program to facilitate the prompt execution of our customers’ transactions before we subsequently transfer the subject crypto assets to or from the segregated customer cold wallets. We maintain cold wallets and private key information for the custody of customer crypto assets at a secure storage facility we operate in Japan where access is strictly limited by multiple levels of security. Release of crypto assets we maintain from a cold wallet requires use of a private key on a computer that is stored in a fireproof safe in a dedicated cold wallet room in a building with a reinforced structure and modern earthquake -resistantfeatures. Separate card key and PIN authorizations are needed to access the cold wallet room and opening of