OBook Holdings Inc. (OWLS) Releases Year-End Shareholder Letter from CEO

OBOOK Holdings Charts a Long-Term Course for Stablecoin Integration

In a year-end letter to shareholders dated December 23, 2025, OBOOK Holdings (NASDAQ: OWLS) CEO Darren Wang outlined a deliberate, compliance-driven strategy focused on embedding stablecoins into mainstream financial workflows. The company intentionally scaled back public-facing product development in 2025 to fortify its regulatory and technological infrastructure, signaling a more aggressive push in 2026 to streamline access to stablecoin utility for consumers and businesses alike.

Wang emphasized a philosophy centered on building enduring value, drawing parallels to companies like Amazon that prioritize long-term market leadership over short-term gains. This approach has guided OBOOK’s decisions, which, according to Wang, often differ from those of competitors chasing market momentum. The company’s core tenets include an uncompromising commitment to compliance, long-term market leadership as the primary investment criterion, disciplined cost management, and a focus on attracting and retaining top talent through equity ownership.

Significant progress has been made in establishing the foundational “rails” for money movement. OBOOK has forged key integrations with established financial players, including Visa Direct, enhancing the utility of card networks for both outgoing and incoming funds, particularly for cross-border transactions. Further expanding its capabilities, the company has integrated with Stellar and the Circle Payments Network (CPN), alongside a partnership with Cross River Bank. These collaborations are designed to facilitate the compliant, real-time, 24/7 movement of USDC between blockchain networks and traditional banking systems. These integrations, while not flashy, are critical for enabling stablecoins to function within real-world financial operations, a key differentiator for enterprise adoption.

Complementing its technological advancements, OBOOK has made substantial investments in its regulatory “passport,” a crucial element for mainstream financial integration. In the United States, the company holds money transmitter licenses (MTLs) in 39 states, providing broad market coverage. Japan has seen the acquisition of one API-based funds transfer license, with two additional payment and remittance licenses under review. In Europe, OBOOK possesses a VASP license and is actively engaged in regulatory enhancements. These licenses are positioned as vital, albeit less visible, assets that underpin institutional trust and long-term adoption.

Looking ahead to 2026, OBOOK’s strategic focus shifts to reducing friction for stablecoin access. The aim is to allow users to leverage stablecoins through familiar payment methods like debit and credit cards, abstracting the underlying complexity. This means improving settlement speed, cost efficiency, and reliability without altering the end-user experience.

The company’s year-end letter highlighted several key developments and strategic pillars:

* **Strategic Partnerships:** Integrations with Visa Direct, Stellar, and the Circle Payments Network, alongside a partnership with Cross River Bank, are central to enabling seamless stablecoin transactions within existing financial infrastructure.
* **Regulatory Footprint:** The acquisition of money transmitter licenses in 39 U.S. states and a VASP license in Europe are critical enablers for compliant operations in major global markets. Additional licenses in Japan are under review.
* **Long-Term Vision:** A deliberate slowdown in 2025 was undertaken to prioritize infrastructure and compliance, setting the stage for broader product rollout and user adoption in 2026.
* **Product Strategy:** The upcoming focus is on simplifying stablecoin access through familiar payment channels, enhancing the user experience for both consumers and businesses.

OBOOK Holdings’ strategic positioning suggests a commitment to building a robust and compliant ecosystem for stablecoin usage, emphasizing foundational strength and regulatory adherence as key drivers for future growth and adoption in the evolving digital finance landscape.