Company: OWLS
Filing Date: 2025-09-19
Form Type: F-1/A
Source: 0001193125-25-208098
Chunk: 170

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-19
Form: F-1/A
Chunk 170
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 This growth underscores the increasing importance of
integrating non-card payment solutions and digital asset capabilities into traditional payment processing frameworks.

As a part of the innovation and paradigm shifts in the payment industry, stablecoins have played a critical role by providing a bridge between
the traditional payment system and blockchain ecosystems. Data compiled by VISA shows that USDC has been rapidly gaining market share, accounting for 50% of total transactions since January, with US$456 billion in transaction volume in a single
week in early 2024, compared to US$89 billion for Tether’s USDT. A survey conducted by Mastercard from 2022 disclosed 51% of Latin American consumers had paid with digital currency, and more than a third had paid with stablecoins. Data
from a 2024 Chainalysis report shows that Latin America received nearly $415 billion in digital currency from July 2023 to June 2024, while among the top five Latin American countries with most digital currency received, stablecoins accounted for on
average around three-fifths of retailed-sized digital currency transaction in the same period. OwlPay is one of the first movers and successfully developed a platform using USDC as an efficient means of settlement for our clients, such as
international e-commerce platforms and OTAs. Under OwlPaysuites, customers can access various fiat currency and stablecoin payment options and perform these payment transactions through various
solutions. By collaborating with our third-party service providers, our stablecoin-based payment capabilities allow payment services to be provided at lower cost compared to the traditional methods. We believe the stablecoin-based payments market
will continue to expand, and we plan to continue to grow and develop our conversion services offerings with more stablecoins, including EURC, ZUSD, and GYEN.

OwlPay’s Competitive Strengths

According to CB Insights’ latest Stablecoin Market Map, OwlTing ranks among the top 2 global players in the ‘Enterprise &
B2B’ category, with a Mosaic score of 832—demonstrating its leadership in blockchain-powered financial infrastructure for businesses. Our OwlPay solution facilitates B2B stablecoin
transactions through hosted wallet, stablecoin payment gateway, conversion, and payout services, enabling key use cases such as cross-border payments, payroll, and treasury management. The Mosaic score—CB Insights’ proprietary
metric—assesses a company’s market opportunity, momentum, and financial strength, further highlighting OwlTing’s strong position and growth potential in the enterprise stable