What Happened?
Taiwan Mobile’s subsidiary, FUSHENG Digital, has launched the “Taiwan Mobile Virtual Asset Exchange,” becoming the first virtual asset exchange in Taiwan established and supported by a major corporate group. It is set to officially launch on May 22, marking a sharp contrast to the recent trend of many VASP operators withdrawing from the market due to regulatory issues or their own problems, thereby introducing new variables into the industry.
The “Taiwan Mobile Virtual Asset Exchange” is spearheaded by key leaders such as Lin Zhi-Chen and Han Kun-Ju from the Taiwan Mobile Group, reflecting the group’s commitment and resource investment in this field. More importantly, FUSHENG Digital has been included in the Financial Supervisory Commission’s list of entities compliant with anti-money laundering regulations, indicating its determination to develop in a compliant manner, which is particularly critical in the current tightening regulatory environment.
Taiwan Mobile Officially Enters the Cryptocurrency Industry!
Amidst a recent wave of trust crises and a low atmosphere in Taiwan’s cryptocurrency industry, where some operators have chosen to exit, an exchange backed by the resources and reputation of a large corporate group has decided to announce its entry at this moment.
FUSHENG Digital recently issued a press conference invitation, announcing the launch of the “Taiwan Mobile Virtual Asset Exchange” (TWEX), scheduled for May 22, “Bitcoin Pizza Day.” This not only makes it the first exchange in Taiwan established and supported by a large corporation but also casts a noteworthy stone into the market at a time when there is a pressing need to inject stability and restore investor confidence.
The emergence of this new exchange has drawn significant attention regarding how it will develop in this challenging yet opportunity-filled environment. FUSHENG Digital pointed out that the establishment of TWEX aims to invite the public to embrace the Web3 trend and become participants in the new era. To celebrate its launch, a press conference and forum will be held on May 22.
The first half of the press conference will be attended by Lin Zhi-Chen, Chairman of FUSHENG Digital (who is also the General Manager of Taiwan Mobile), and General Manager Han Kun-Ju, who will share their observations on industry trends and introduce TWEX. The second half will be a forum co-hosted by FUSHENG Digital and the Taiwan FinTech Association, inviting the association’s Chairperson Fang Yan-Ling, Honorary Chairperson Cai Yu-Ling, and others to discuss three key topics: security protection, joint defense and fraud prevention, and the regulatory process for stablecoins in Taiwan.
“Taiwan Mobile Virtual Asset Exchange” Targets the Web3 Market, Has Obtained Anti-Money Laundering Compliance Recognition
In fact, Taiwan Mobile’s ambitions in the cryptocurrency industry have been evident for some time. FUSHENG Digital Co., Ltd. was listed as the 26th entity on the Financial Supervisory Commission’s list of “Virtual Currency Platform Operators Compliant with Anti-Money Laundering Regulations,” confirming its proactive steps towards compliance.
The core team of FUSHENG Digital also shows a close connection with Taiwan Mobile. The leader of FUSHENG Digital is Lin Zhi-Chen, the General Manager of Taiwan Mobile, who is also the Chairman and Partner of AppWorks Accelerator and has long maintained an open attitude towards the Web3 industry, supporting many related startups through AppWorks. Lin Zhi-Chen has previously expressed optimism about the potential for the new generation of currency to replace some fiat currencies in the future.
Additionally, Han Kun-Ju, Director of FUSHENG Digital, is the Vice President of New Technology Business Development at Taiwan Mobile and has participated in the development of the PChome Pi Wallet; Supervisor Cai Qi-Yan serves as the Group Chief Information Officer of Taiwan Mobile, demonstrating the support of the core team for this new venture.
Although FUSHENG Digital has applied for trademarks such as OP Crypto Account and OPcrypto, indicating its commitment to the cryptocurrency sector, it wasn’t until the announcement of the Financial Supervisory Commission’s compliance list that its plans to enter the cryptocurrency trading platform became clearer, differing from earlier speculation that Taiwan Mobile hired Han Kun-Ju only to expand the “mo currency” ecosystem.
Regarding large enterprises like Taiwan Mobile joining the cryptocurrency industry, the Taiwan Virtual Asset Platform and Trading Business Association (VASP) expressed its support at that time.
Recently, as Taiwan’s regulatory authorities have tightened their oversight of Virtual Asset Service Providers (VASP), the cryptocurrency industry in Taiwan is undergoing significant reshuffling and transformation, with several operators opting to exit the market amid challenges and changes. In May of this year, several exchanges from the list have announced the termination of trading and operations, including BitAsset (Asia-Pacific Easy Ant Technology), Coin-Now Bitcoin Exchange (Yangjia Co., Ltd.) which ended operations due to “overall environmental changes and operational strategy adjustments,” BitShine, which was previously reported to be involved in money laundering for fraud groups, and CoinWorld, which actively withdrew from the compliance list and has ceased operations, all of which are no longer on the list.
With the draft of the “Virtual Asset Service Act” expected to be submitted to the Executive Yuan in June, and the Financial Supervisory Commission requiring VASP operators to complete legal registration by the end of September 2025, these events highlight that Taiwan’s cryptocurrency industry is in a critical period of compliance growing pains and transformation.
At this moment of tightening regulation, the official launch of Taiwan Mobile Exchange will undoubtedly send shockwaves through Taiwan’s cryptocurrency industry. As a telecommunications giant with scale and resources, how to balance industry flexibility and compliance requirements while establishing a foothold in the market will be a focal point of attention across various sectors.