2024 MaiCoin Group CEO’s Open Letter
Hello everyone, I am Liu Shiwei, the CEO of MaiCoin Group.
This year marks the 10th anniversary of the MaiCoin digital asset trading platform. From a team of only 3 people, we have grown into a group enterprise with over 100 employees. We started by trading Bitcoin on the MaiCoin platform and have since explored the application of Ethereum blockchain technology. We obtained virtual currency wallet patent technology through AMIS, launched MAX exchange, pioneered the global fiat currency trust mechanism, issued the MAX Token, established the first physical consultation store for virtual currency trading platforms in Taiwan, provided NFT technology solutions for enterprises through Qubic, and launched MaiCoin PAY virtual currency payment service.
We have been continuously exploring innovative applications of blockchain technology and experimenting with the possibilities of DeFi-related technologies and derivative products.
In the past 10 years, the global cryptocurrency industry has experienced numerous ups and downs and changes. After cryptocurrencies gradually stepped onto the mainstream stage, governments around the world began to pay attention to and implement regulations. This year, with the establishment of the Virtual Currency Industry Association in Taiwan and the upcoming registration system for virtual currency businesses, it is obvious that the virtual currency industry has become an industry that cannot be ignored.
This year, MaiCoin has also experienced many things. The IPO guidance is ongoing and we have gained the favor of investors such as Far EasTone Telecommunications, Federated Group, and Hera Capital, and completed Series B financing. New investors mean more resources, but also more expectations.
After the establishment of the association and the registration system for virtual currency businesses, we must demand ourselves to meet stricter standards in internal control and information security. We strive to meet the expectations of users, regulations, and regulatory authorities, as well as constantly innovate our products and services, including MaiCoin PAY virtual currency payment, the launch of investment strategy robots by MAX exchange and deeper cooperation with banks, and the introduction of DeFi-related technical services by Qubic.
However, for some users, the most memorable thing may be the inconvenience caused by strict risk control measures.
In fact, we have indeed made an imperfect and risky decision. Strict risk control measures may cause users to lose confidence or even lose them. They will also inevitably put pressure on departments such as review, customer service, and physical stores. It can be imagined that communities or the media may raise questions, and even individuals with ulterior motives may spread rumors or create a negative atmosphere.
However, since the establishment of the MaiCoin platform and MAX exchange, protecting user assets has always been our top priority. This cannot be achieved solely through fiat asset trust, hierarchical management of virtual currency using cold, warm, and hot wallets, or improving the company’s information security protection level.
In recent years, there have been numerous cases of cryptocurrency fraud or money laundering. Although we are committed to dissociating cryptocurrencies from fraud and continue to educate the public and cooperate with regulatory authorities, law enforcement agencies, and banks to raise users’ awareness and reduce the chances of financial losses, it is undeniable that strict risk control mechanisms are also one of the means and tools. By law, we have the obligation and responsibility to prevent user accounts from being abused by fraud. Measures such as temporarily suspending trading and withdrawals are taken. At the same time, we actively extend and optimize front-end KYC registration processes, continuous risk control models during and after transactions, and extract the most practical and accurate identification and prevention methods from repeated anti-fraud experiences to protect user assets.
The MaiCoin Group is deeply grateful for the support and trust of users and all parties. To sum up our journey in one sentence: MaiCoin Ten For TenaXious.
“Tenacious” symbolizes an indomitable spirit, which is exactly the attitude we have insisted on in the face of countless challenges and fluctuations. We adhere to our commitment to users, pursue legal compliance, and work towards mainstreaming cryptocurrencies. These are the foundations for the long-term operation of the MaiCoin Group. Only in this way can we live up to the trust of users, investors, and partners.
We look forward to continuing to innovate and practice the application of blockchain technology and cryptocurrencies in a healthy cryptocurrency industry ecosystem, such as issuing stablecoins or derivative products, and becoming one of the choices in the mainstream market.
I firmly believe that on the basis of this year, there is a chance to achieve the goal of submitting the MaiCoin Group’s IPO. I believe that next year, the MaiCoin Group will have a better foundation and meet the challenges of the next stage.