What Happened?
Taiwan Mobile’s subsidiary, Fubon Digital, has launched the “Taiwan Virtual Asset Exchange (TWEX),” which is viewed by peers and associations as a new driving force in the market. The large user base of Taiwan Mobile is expected to aid in the popularization of cryptocurrency user education, allowing more people to understand and engage with cryptocurrencies.
The group background of “Taiwan Virtual Asset Exchange (TWEX)” (Fubon Group, Taiwan Mobile) is generally believed to enhance overall market trust. However, the true competitive key in the future market will rely on technological capabilities, practical experience, and the strength of mechanisms deeply rooted in blockchain.
The Virtual Currency Business Association of the Republic of China (VASP Association) has also pointed out that the addition of Taiwan Mobile Exchange symbolizes a trend towards more rigorous financial supervision in Taiwan’s cryptocurrency industry, forecasting a shift from the early stage to a more mature, professional, and compliant competitive environment for Taiwan’s cryptocurrency market.
Market Activation, User Education, and Public Acceptance
Fubon Digital, under Taiwan Mobile, has officially launched the “Taiwan Virtual Asset Exchange (TWEX),” delivering a shocking impact on Taiwan’s cryptocurrency market. In the face of a “giant newcomer” armed with substantial resources and brand influence, existing players and industry associations in Taiwan’s cryptocurrency sector generally welcome the development while also highlighting the deeper core of market competition and future challenges.
The “BitoEX Exchange” expressed its affirmation of Taiwan Mobile Exchange’s entry, believing that Taiwan Mobile possesses strong group resources and profound experience in the telecommunications industry, showcasing high professionalism and capability in user experience, product diversity, and cybersecurity technology. This will help attract more users into the cryptocurrency asset field.
BitoEX CEO Zheng Guangtai pointed out that Taiwan Mobile’s vast user base means that the launch of Taiwan Mobile Exchange will facilitate the popularization of user education regarding cryptocurrencies, enabling more users to smoothly enter the cryptocurrency asset realm. This move also reflects the increasing attention major enterprises and institutions are paying to the cryptocurrency industry, which can accelerate industry development.
The VASP Association is more focused on the overall development of the industry. The association stated that in the past, cryptocurrencies have often been misunderstood and labeled negatively, resulting in high educational costs. They anticipate that the inclusion of new members like Taiwan Mobile Exchange will establish a correct understanding and acceptance of cryptocurrencies among the public, thus enhancing the overall industry’s healthy ecosystem towards mutual prosperity.
The association’s chief advisor, Cai Yuling, echoed this sentiment, noting that recent dynamics and adjustments among VASP members reflect a trend towards more stringent financial supervision in the industry. Although some players have chosen to exit due to regulatory costs, new participants are being attracted to see market potential and actively enter.
Future Competition Relies on “Flexible Asset Application” and “Risk Management”
MaiCoin Exchange welcomed Taiwan Mobile’s addition, pointing out that this will bring new competitive vitality to the market and increase attention to the everyday applications and investment experiences of cryptocurrencies.
MaiCoin emphasized that what users are most concerned about is the cryptocurrency they buy or hold, and whether it can create greater value in the future. Therefore, they believe that the true competitive key in the market is not just cost or interface optimization, but the ability to provide a product structure for flexible asset application, particularly in the development of derivative products, which is the core drive for deepening the industry and capital flow.
In light of exchanges entering the market with large corporate backgrounds, MaiCoin acknowledged that this helps to enhance overall investor confidence, but they also pointed out that the real test of confidence in the platform will depend on whether each operator can construct a complete, transparent, and flexible clearing system and risk management mechanism.
MaiCoin noted that whether exchanges possess technical capabilities and practical experience will become key to users’ sense of trust and proper risk management. Cryptocurrency exchanges that have undergone multiple market cycles and have deeply engaged in blockchain mechanisms will possess more significant advantages. This also signifies that while large capital enters the market, deep industry experience and technical strength remain indispensable competitive factors.
The Taiwan cryptocurrency industry holds a cautiously optimistic attitude towards the entry of Taiwan Mobile Exchange. While looking forward to its role in energizing the market and enhancing public trust, it also reminds the industry that its development must ultimately return to core product innovation, cybersecurity protection, and rigorous risk management capabilities.