Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 6

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 6
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 the native digital assets of the
transaction chain. We plan to expand OwlPay Wallet Pro services to support more blockchains, including Base and Solana and diversify our stablecoin offering, including EURC, ZUSD and GYEN to enable customers to execute foreign exchange
transactions using stablecoins in the future. After the integration of OwlPay and OwlPay Wallet Pro, customers will be able to access various fiat currency and stablecoin payment options and perform these payment transactions on a
single platform.

OwlPay continues to build multi-jurisdictional capabilities and aims to expand its service offerings
internationally. For example, we currently hold money transmitter licenses, or MTLs, in 30 states in the United States and the Virtual Asset Service Provider, or VASP, registration in Poland. We are also in the process of preparing for applications
for a bank API license, a fund transfer service license and a stablecoin license in Japan, a major payment institution license in Singapore and a money service operator license in Hong Kong; and we expect to upgrade the qualification as a Crypto
Asset Service Provider, or CASP, under Markets in Crypto-Assets

2

Regulation (MiCAR) in the EU. We also plan to further expand to Brazil, Argentina and other markets in South America where we could provide virtual asset services without being subject to licensing requirements. We believe our payment business will be the most significant driver of our future business expansion plans. We believe our expansion into new products and markets from our current customer-centric businesses will enable us to capture cross-selling opportunities with our existing relationships in the e-commerceand hospitality industries, and to grow into a comprehensive cross-border payment platform and business ecosystem. For the nine months ended September 30, 2024, our company’s total revenue was comprised of our operations in the following main business segments: (i) Payments contributed to 52% of our total revenue; (ii) Hospitality (which include software services and platform services) contributed to 37% of our total revenue; and (iii) E-commerce contributed to 11% of our total revenue. OwlPay’s Market OwlPayaims to serve the cross-border payments markets. According to the 2023 McKinsey Global Payments Report, global payment revenue, comprised of both commercial and consumer domestic and cross-border payment services, reached an all-timehigh of over US$2.2 trillion in 2022 and will reportedly grow at a 6-8%annual rate after 2023. It is also expected to exceed