Taiwan Mobile Company Likely to Offer Crypto Trading

Taiwan Mobile Company Likely to Offer Crypto Trading
Taiwan Mobile Co., one of Taiwan's leading telecommunications companies, is said to be engaged in discussions with domestic cryptocurrency platforms regarding a potential partnership aimed at providing crypto trading services to its user base. The company is also considering the prospect of making an investment in one of these platforms as part of the collaboration.

Unnamed sources familiar with the matter, as reported by Bloomberg, have disclosed that the government-licensed wireless service provider, Taiwan Mobile Co., is currently engaged in preliminary discussions with various cryptocurrency firms, such as Taipei-based XREX Inc. These talks revolve around the exploration of potential strategic partnerships within the digital asset sector. The sources have requested anonymity in relation to this information.

The sources have emphasized that the discussions are currently in their initial phases and there is no guarantee that an agreement will be reached. Taiwan Mobile, when approached for comment, stated that they are receptive to potential opportunities but did not provide additional details on the matter.

While Wayne Huang, co-founder of XREX, refrained from commenting on whether his firm is engaged in discussions with Taiwan Mobile, he expressed his anticipation of larger institutions entering the Web3 sector as it evolves and regulatory frameworks become more defined. XREX positions itself as a blockchain-powered financial institution.

Although Huan did not specifically address Taiwan Mobile, he did mention that XREX is eager to establish synergistic partnerships with telecom operators in order to facilitate the wider adoption of blockchain technology in the future, particularly when regulatory frameworks become more defined. This indicates XREX's interest in collaborating with telecom operators, potentially including Taiwan Mobile, to advance the use of blockchain technology.

“Synergies are high because such institutions own a sizable, already-KYCed user base, while XREX offers domain expertise in blockchain and cybersecurity.”

Over the past year, Taiwan has been actively expanding its exploration of blockchain technology and Web3. In August, Taiwanese officials made an announcement regarding the establishment of the Ministry of Digital Affairs (MODA), reflecting the country's commitment to these emerging technologies. The creation of MODA occurred against the backdrop of heightened tensions between Taiwan and China, the island nation located in the western Pacific Ocean.

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