Taiwan Mobile Explores Potential Investment in Local Crypto Platforms

• Taiwan Mobile is exploring opportunities for collaboration with local crypto platforms.
• Talks are underway with companies such as XREX, a Taipei-based blockchain firm.
• The move comes as Taiwan aims to establish a digital-asset rulebook.

In a move that could redefine the landscape of telecommunications and the crypto industry, Taiwan Mobile Co., the government-licensed wireless service provider, is actively exploring the realm of crypto.

According to a recent report, Taiwan Mobile Co. is engaging in early-stage discussions with local crypto platforms to potentially invest in one of the ventures, setting the stage for a partnership.

Sources familiar with the matter revealed that Taiwan Mobile is talking with several crypto firms for potential strategic partnerships. One notable discussion participant is XREX Inc., a Taipei-based blockchain-enabled financial institution.

Notably, Taiwan Mobile refrained from providing specific comments on the matter while remaining “open to any potential opportunities,” according to the source.

While Wayne Huang, the co-founder of XREX, declined to confirm or deny whether his firm was engaged in talks with Taiwan Mobile, he expressed that larger institutions would venture into the space as the Web3 sector matures and regulatory clarity emerges.

Huang further emphasized XREX’s enthusiasm for partnering with telecom enterprises to drive adoption. He cited the potential synergies between telecom companies and blockchain-enabled financial institutions.

Marvin Lo, a senior industry analyst, remarked that Taiwan Mobile’s exploration of the fintech business aligns with the strategies adopted by Japanese telcos. He noted that entering the crypto space could present exciting possibilities for the company.

In March, Taiwan appointed the Financial Supervisory Commission as the primary regulator for virtual-asset service providers. The commission aims to introduce comprehensive guidelines by the end of September.

As Taiwan Mobile explores potential partnerships in the crypto space, its collaboration with a local platform could pave the way for further innovation and adoption of blockchain technologies within the country’s telecommunications sector.