News in the Crypto World: Taiwan Mobile Secures VASP License for Crypto Services

Taiwan Mobile, the nation’s second-largest telecommunications carrier, has made a significant move into the digital asset space by securing a Virtual Asset Service Provider (VASP) license. This milestone paves the way for the potential launch of a crypto exchange and other related services by the company.

The acquisition of the VASP license by Taiwan Mobile comes at a time of substantial regulatory changes in Taiwan. The Financial Supervisory Commission (FSC), the nation’s primary financial regulator, has been actively working to create a more robust regulatory framework for digital assets. This move is part of Taiwan’s broader strategy to integrate digital assets into its financial ecosystem while ensuring consumer protection and market integrity.

The decision by the FSC to grant the VASP license to Taiwan Mobile is a testament to the company’s compliance with stringent regulatory requirements. This license will enable Taiwan Mobile to offer a range of crypto-related services, including trading, custody, and potentially operating a full-fledged cryptocurrency exchange.

In a related development, Singapore-based Partior, a cross-border payments and settlement blockchain company, announced the closure of a $60 million funding round led by Peak XV Partners. The funding round also saw support from Valor Capital Group and Jump Trading Group as new investors, with JP Morgan, Standard Chartered, and Temasek as existing shareholders.

Partior CEO Humphrey Valenbreder expressed optimism about the future of blockchain-based cross-border transactions, stating that the company is breaking down silos and rewriting the rules for clearing and settlement. The backing of some of the world’s best banks and investors validates Partior’s vision for frictionless cross-border transactions.

Overall, these developments in the digital asset and blockchain space highlight the growing interest and investment in the sector, as companies like Taiwan Mobile and Partior position themselves for success in the evolving financial landscape.