- Taiwan Mobile could become a major player in the crypto market
- Taiwan Mobile becomes the 26th VASP operator in Taiwan
- What impact can such a move have on the market?
Taiwan Mobile Enters the Crypto Market
Taiwan Mobile, a telecom company valued at 431.90 billion TWD, has become the 26th VASP operator in Taiwan, according to the latest details on the Financial Supervisory Commission (FSC) website on July 5.
It will launch a cryptocurrency exchange, a big step toward integrating digital assets into mainstream services.
This strategic move could position Taiwan Mobile as a major player in the crypto market. Zhichen Lin was the driving force behind the company’s application. The general manager of Taiwan Mobile put the telecom giant in a great position to join the VASP Association.
“We also look forward to the future, where the combination of Taiwan Mobile and exchanges will bring about different cryptocurrency application scenarios.”
Taiwan Mobile Becomes the 26th VASP
Taiwan Mobile, a telecom company valued at 431.90 billion TWD, has become the 26th VASP operator in Taiwan, according to the latest details on the Financial Supervisory Commission (FSC) website on July 5. It signals a massive step forward in integrating digital assets within mainstream services.
Taiwan Mobile is looking into working with local crypto platforms, including investing in a crypto business. Due to high demand, the company could open a crypto exchange in the country.
Taiwan Mobile’s Market Impact
Taiwan’s FSC plans to submit a draft of the revised digital asset rules in September.
The regulator is monitoring Bitcoin ETFs to see if there is enough demand. The FSC could let Taiwanese investors buy overseas Bitcoin ETFs again, showing that it is open to new crypto ideas.
Taiwan Mobile’s move into the VASP space is not only a business move, it’s a big step toward digital assets being accepted by the mainstream in Taiwan, its involvement in the crypto market could help make digital currencies more widely accepted by the Taiwanese public.
So, this could lead to other big companies doing similar projects. This would speed up digital asset integration into everyday financial activities. This big move shows the company’s dedication to innovation and puts it at the top of the game when it comes to digital asset integration in mainstream services.
