Can bypass FSC regulations on using credit cards to buy crypto? OdinTing introduces the Wallet Pro service for buying crypto with a U.S. debit card

OwlTing has launched OwlPay and Wallet Pro services. By partnering with major international payment players and using stablecoin technology, it enables B2B cross-border payments, and leverages the advantages of offshore entities to connect with international financial systems.

【This article was published at 13:00 on 4/13, with the last updated time at 22:30 (supplemental OwlTing Group statement added in the third paragraph of this article)】

From e-commerce to fintech, OwlTing’s cross-border payment layout shows strategic ambition

Taiwan’s well-known blockchain company OwlTing (OwlTing) successfully went public on the Nasdaq in the United States last year via a Direct Listing, with the stock ticker OWLS.

The company’s transformation journey is quite notable. It started out with the e-book platform “Ebook” (歐簿客), then expanded into small-farm e-commerce and blockchain traceability systems. Over the past decade, OwlTing has continuously tried to put blockchain technology into practice—starting from early efforts to help the government establish traceability records for forest products, and later applying the technology to hotel and lodging businesses for booking inventory management. At this stage, OwlTing has fully shifted its focus to fintech and launched its flagship payments cash-flow service product OwlPay.

The company has positioned itself as a fintech business, trying to build the infrastructure for stablecoin payments through partnerships with international investment institutions such as Japan’s SBI. OwlPay focuses on enterprise-grade B2B cross-border payments, using stablecoin technology to speed up transfers and reduce transaction fees, aiming to address the predicament of traditional banks’ cross-border settlement taking several days and involving overly complex processes. What OwlTing presents to the market is a vision to build an “Asia-version” payment giant like Stripe. Its development logic is to extend blockchain’s ability to prevent “double spending,” moving from agricultural traceability and hotel inventory management to cash-flow settlement. This strategy of shifting from real-world applications to core financial services enables it to showcase a distinct business path amid intense competition in the blockchain industry.

Wallet Pro connects international payment infrastructure, and its technical architecture enables cross-border buying of crypto

Wallet Pro, the personal payment wallet launched by OwlTing, is an important step in its entry into the virtual-asset retail market. The core competitiveness of this product is built on its cooperation with international payment giant MoneyGram, with its use cases targeted at remittances for migrant workers and personal cross-border money flows.

Wallet Pro uses blockchain technology to allow users to buy $USDC stablecoins with cash at specific physical retail outlets and then make international transfers. The biggest technical highlight of this product lies in its architecture directly connecting to the Visa Direct system, and it is explicitly marked as supporting transactions using “United States” signature debit cards.

This model demonstrates OwlTing’s offshore-entity advantage as a U.S.-listed company. Through direct connectivity with international card networks, Wallet Pro can process money flows from U.S.-issued card-issuing institutions, thereby enabling integration between virtual-asset settlement systems and traditional fiat settlement systems.

Although this service is currently designed for U.S.-issued debit cards, the core technical logic demonstrates a possibility of providing users with an asset-conversion route through offshore compliant channels. This design reflects the company’s flexibility in product strategy, and it also seeks a more efficient funding-in channel for the use of virtual assets within the existing international financial network.

Avoiding domestic regulatory restrictions, offshore service entities challenge the boundary of legal jurisdiction

OwlTing’s U.S. signature card buy-crypto service has sparked in-depth discussion in the market about regulatory boundaries. Because the business directly connects to the Visa Direct system and supports U.S. signature debit cards, it is, in essence, an offshore transaction service.

Against the backdrop of the Taiwan Financial Supervisory Commission’s strict prohibition on domestic banks’ cards engaging in virtual-asset transactions, OwlTing’s model offers a technical workaround. This business is deemed cross-border services provided by an offshore company, not merely domestic business, and therefore can operate outside the specific regulations currently applicable to Taiwan virtual-asset service providers (VASP).

The FSC’s regulatory scope mainly focuses on domestic companies and entities providing services within Taiwan. For domestic companies operating offshore and connecting with overseas financial systems, such business usually falls outside its jurisdiction. When users use U.S. signature debit cards, the transaction activity occurs under the U.S. financial regulatory regime, not within Taiwan’s jurisdiction.

This “offshore services, domestic use” model is a strategy adopted by many fintech companies with international backgrounds. OwlTing’s CEO has shown a firm stance in response to outside doubts, emphasizing that if the media or individuals distort information, it may constitute misleading market behavior—reflecting the company’s determination to maintain the legality of its cross-border business and its market image.

OwlTing Group Statement

Regarding the relevant business structure, OwlTing Group today (4/13) issued a clarification to 《Crypto City》 with the following two points:

1. Emphasize that the OwlPay U.S. dollar stablecoin signature-debit-card functionality is currently provided only to users in the United States, not launched within Taiwan, and not made available to users in Taiwan. This service must be used through U.S.-issued eligible bank signature debit cards, and it has a complete KYC identity verification mechanism.
2. This service is independently executed within the United States by OwlTing USA, Inc., OwlTing Group’s U.S. subsidiary. Its business activities are fully governed by federal and state-level U.S. financial regulations, including the anti-money-laundering compliance requirements of the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).

OwlTing also reiterates that the Group complies with the laws and regulations of the locations where it operates worldwide. If it promotes any related financial services in Taiwan in the future, it will obtain complete approvals from the competent authorities in advance. This legal distinction of “offshore services, domestic entity” clearly defines the territorial nature of its services.

Virtual Asset Service Act draft finally approved; a new path for offshore operators to enter the market

On April 9, 2026, the Executive Yuan officially approved the draft “Virtual Asset Service Act,” symbolizing a new phase in Taiwan’s move toward law-based management of the virtual-asset industry. The bill categorizes virtual-asset service providers into seven major types: trading platforms, exchange businesses, transfer service providers, custodians, issuers, investment advisors, and other announced service providers, among others, and it adopts a licensing-and-permit system across the board.

The new law imposes strict requirements on asset custody. It explicitly states that stablecoins may not be issued with interest, and it also sets severe penalties of up to NT$200 million for conduct involving fraud. The publication of this law aims to improve business operations and protect the rights and interests of traders, representing a major compliance challenge for domestic operators.

• Related news: 2026 latest》Virtual Asset Service Act draft quick guide: full breakdown of stablecoins, licenses, and penalties

In an environment where compliance thresholds are rising, OwlTing’s offshore detour model has sparked open-ended thinking about future market competition. As Taiwan’s virtual-asset regulations become increasingly stringent, will this approach of using an offshore entity’s identity and connecting to international financial infrastructure become the standard playbook for other offshore operators entering the Taiwan market?

When domestic operators must bear high compliance costs and business limitations, if service providers with international backgrounds continue to provide more flexible funding-in options through technical means, it will have a far-reaching impact on the local regulatory system and market structure.

Integration of decentralized technologies with cross-border financial networks is continuously challenging traditional territorial regulations. Market participants will keep testing how accommodating the regulations are, seeking a balance between innovation and compliance.