Taiwan Mobile's wholly-owned subsidiary, Fu Sheng Digital, has officially launched its new virtual asset exchange, TWEX. The platform went live on Bitcoin Pizza Day, initially offering Bitcoin and Ethereum trading exclusively to Taiwan Mobile subscribers. A broader public rollout is planned for later this year.
The chairman of Fu Sheng Digital, James Lin, confirmed that Taiwan Mobile has fully funded this venture. Consequently, all revenue generated by TWEX will be fully integrated into the parent company's financial reports. While the exact timeline remains unspecified, the exchange intends to open its services to all users in the second half of the year. Initially, the platform supports Bitcoin and Ethereum, with plans to gradually list additional digital assets.
Currently, only about 5% of Taiwan's population engages in virtual asset investments. This means a significant 95% are newcomers to this financial space. The general manager of Fu Sheng Digital, Kun-Ju Han, emphasized that the primary goal is to offer these new users a simple and straightforward experience. The platform will introduce more advanced features progressively, expanding its Web3 service offerings as market regulations mature.
Key Features of the TWEX Platform
TWEX is the first virtual asset exchange in Taiwan operated with investment from a major corporate group. It emphasizes security, ease of use, and accessibility, aiming to be a trusted choice for new entrants into the digital asset market.
Security First with Advanced Protection
The platform utilizes a Hardware Security Module (HSM) to create a fully offline cold wallet system. This multi-layered security approach is designed to provide superior protection for user assets.
Streamlined and Simple Trading Process
The exchange is built for simplicity. Users can complete transactions in three intuitive steps: select the asset, enter the amount, and confirm the purchase. This process removes technical barriers for those unfamiliar with digital currencies.
Low Barrier to Entry for New Investors
A standout feature is the low minimum investment requirement. Users can start investing with as little as NT$100, making it easy for anyone to begin their journey into virtual assets. The platform currently focuses on buying, holding, and selling for fiat withdrawal, with on-chain transfer capabilities to be added later.
Leadership Belief in Digital Assets
James Lin shared his personal experience, noting he bought his first Bitcoin in late 2013 when its price was $656. He highlighted that its value has since grown over 155-fold, representing an annualized return of approximately 58%. He believes Taiwan has the potential to become a significant hub for virtual currency trading.
The exchange’s vision is to work under regulatory guidance to promote the mainstream adoption of digital assets. It aims to achieve this through high compliance standards, rigorous governance, and strong anti-money laundering protocols.
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Frequently Asked Questions
What is TWEX?
TWEX is a new virtual asset exchange launched by a subsidiary of Taiwan Mobile. It is designed to provide a secure and easy-to-use platform for buying, selling, and holding digital assets like Bitcoin and Ethereum.
Who can use the TWEX exchange?
The platform is currently in an initial phase, available only to existing Taiwan Mobile subscribers. The company plans to make it available to the general public in the second half of the year.
What cryptocurrencies are available on TWEX?
At launch, the exchange supports Bitcoin (BTC) and Ethereum (ETH). The management has indicated that more digital assets will be added to the platform in the future.
How does TWEX ensure the security of my assets?
TWEX uses an advanced Hardware Security Module (HSM) to maintain user assets in a completely offline cold wallet storage system. This is part of a multi-signature security framework designed to protect against unauthorized access.
What is the minimum amount I can invest?
You can start investing on the TWEX platform with a minimum of just NT$100. This low barrier to entry is intended to make digital asset investment accessible to everyone.
Can I transfer my crypto to an external wallet?
Currently, the platform does not support transferring assets to external blockchain addresses (on-chain transfers). Users can sell their assets on the exchange and withdraw New Taiwan Dollars to their bank account. Off-chain transfer functionality is expected to be introduced in the future.