- Taiwan Cellular is exploring the opportunity of cooperation with native cryptocurrency platforms.
- Talks are underway with corporations corresponding to XREX, a Taipei-based blockchain firm.
- This comes as Taiwan seeks to create a digital asset rulebook.
In an effort to redefine the panorama of the telecommunications and cryptocurrency industries, government-licensed wi-fi service supplier Taiwan Cellular Co. is actively exploring the sphere of cryptocurrencies.
Based on a current report, Taiwan Cellular Co. is in early discussions with native crypto platforms to put money into one of many corporations, setting the stage for a partnership.
Sources acquainted with the matter revealed that Taiwan Cellular is in talks with a number of cryptocurrency corporations for doable strategic partnerships. One distinguished participant within the debate is XREX Inc., a Taipei-based monetary establishment with a blockchain.
Notably, Taiwan Cellular shunned making particular feedback on the matter, however remained “open to any chance,” in keeping with the supply.
Whereas Wayne Huang, co-founder of XREX, declined to substantiate or deny whether or not his firm was in talks with Taiwan Cellular, he mentioned that bigger establishments will take up the house because the Web3 sector matures and laws are clear.
Huang additionally highlighted XREX’s enthusiasm for partnering with telcos to drive adoption. He talked about the potential synergy between telecommunications corporations and monetary establishments with blockchain.
Senior trade analyst Marvin Lo famous that Taiwan Cellular’s exploration of the fintech enterprise is consistent with the methods adopted by Japanese telecommunications corporations. He famous that getting into the cryptocurrency house may current some fascinating alternatives for the corporate.
In March, Taiwan appointed the Monetary Supervisory Fee as the primary regulatory physique for digital asset service suppliers. The Fee goals to current detailed tips by the top of September.
Taiwan Cellular is exploring potential partnerships within the cryptocurrency house, so its collaboration with the native platform may pave the best way for additional innovation and adoption of blockchain know-how within the nation’s telecommunications sector.
