Is it possible that using a credit card to buy crypto could bypass Financial Supervisory Commission regulations? Odlinting is promoting Wallet Pro, a U.S. debit card crypto-buying service

OwlTing launches OwlPay and Wallet Pro services. By partnering with international payment giants and leveraging stablecoin technology, it enables B2B cross-border payments, and further connects with international financial systems through the advantages of an offshore entity.

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

From e-commerce to financial technology, OwlTing’s cross-border payment rollout shows strategic ambition

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

The company’s transformation is quite significant. It started out with an e-book platform called “EBook” (eBokke), then expanded into small-farmer e-commerce and blockchain traceability systems. Over the past decade, OwlTing has continuously tried to bring blockchain technology into practice—ranging from helping the government build records for traceability of forest product exports in its early days, to later applying the technology to booking inventory management in the hospitality industry. At this stage, OwlTing is shifting its focus entirely to financial technology and has launched its flagship cashflow service product OwlPay.

The company has positioned itself as a financial technology company. Through collaborations with international investment institutions such as Japan’s SBI, it aims to build the infrastructure for stablecoin payments. OwlPay is primarily focused on enterprise-grade B2B cross-border payments, using stablecoin technology to speed up transfers and reduce transaction fees, with the goal of addressing the dilemma of traditional banks’ cross-border settlement taking days and involving cumbersome programming. What OwlTing presents to the market is a vision of building an “Asia version” of the payment giant Stripe. Its development logic is to extend blockchain’s ability to prevent “double spending,” from agricultural traceability and hotel inventory management to cashflow settlement. This strategy of moving from real-world applications to core financial services enables it to demonstrate a distinctive business path in an intensely competitive blockchain industry.

Wallet Pro connects international payment infrastructure; its technical architecture enables cross-border buying/selling of crypto

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

Using blockchain technology, Wallet Pro lets users buy $USDC stablecoins with cash at select physical retail locations and then make international transfers. The product’s biggest technical highlight is that its architecture is directly connected to the Visa Direct system, and it clearly indicates support for transactions using “US” signature debit cards.

This model reflects OwlTing’s advantage as an offshore entity of a publicly listed US company. Through direct connectivity with international card networks, Wallet Pro can handle cashflows coming from US card-issuing institutions, thereby enabling integration between virtual asset settlement systems and traditional fiat settlement systems.

Although the service is currently designed for signature cards issued in the United States, its core technical logic demonstrates a possibility of providing users with an asset conversion route via offshore compliant channels. This design reflects the company’s flexibility in product strategy, and it also attempts to find more efficient funding deposit channels for virtual asset usage within the existing international financial network.

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

OwlTing’s US signature card buy-crypto service has sparked in-depth discussions in the market about regulatory jurisdiction boundaries. Because the business directly connects to the Visa Direct system and supports US signature debit cards, its nature is that of an offshore transaction service.

Against the backdrop of the Taiwan Financial Supervisory Commission’s (FSC) strict ban on domestic banks’ cards for virtual asset trading, OwlTing’s model offers a technical solution. This business is determined to be cross-border services provided by an offshore company, not simply a domestic business, and therefore it can operate outside the specific requirements currently applied to Taiwan virtual asset service providers (VASPs).

The FSC’s regulatory scope mainly focuses on domestic companies and providers that offer services within Taiwan. For businesses where domestic companies operate offshore and connect with foreign financial systems, it typically falls outside its jurisdiction. When users use US signature debit cards, the transaction activities they generate occur under the US financial regulatory framework rather than within Taiwan’s jurisdiction.

This “offshore service, domestic usage” model is a strategy adopted by many financial technology companies with international backgrounds. OwlTing’s CEO responded to external doubts with a firm stance, emphasizing that if the media or individuals distort information, it may constitute misleading market behavior. This reflects the company’s determination to maintain the legality of its cross-border business and its market image.

OwlTing Group statement

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

1. Emphasize that the OwlPay USD stablecoin signature debit card function currently is only provided to US users, and is not launched in Taiwan, nor is it open to Taiwan users. This service must be used through US-issued bank signature debit cards that meet eligibility requirements, and it has a complete KYC identity verification mechanism.
2. This service is independently carried out within the United States by OwlTing USA, Inc., OwlTing Group’s US subsidiary. Its business activities are fully governed by federal and state-level financial regulations in the United States, including the anti-money-laundering compliance requirements of the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).

OwlTing also reiterates that the Group complies with local laws and regulations in all global operating markets. 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 service, domestic entity” clearly defines the territorial nature of its services.

A draft virtual asset services law is approved; a new path for offshore firms to enter the market

On April 9, 2026, the Executive Yuan formally approved the draft “Virtual Asset Services Act,” symbolizing a new phase in Taiwan’s virtual asset industry moving into legally regulated management. The bill classifies virtual asset service providers into seven categories: trading platforms, exchange operators, transfer service providers, custody providers, issuers, investment advisers, and other publicly announced service providers, among others, and it fully adopts a licensing-based system.

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

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

In an environment where compliance thresholds are increasing, 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 offshore entity identities and connecting with international financial infrastructure become the standard practice for other offshore providers entering the Taiwan market?

When domestic operators must bear high compliance costs and business restrictions, if service providers with international backgrounds continue to offer more flexible funding deposit options through technical means, it will have a profound impact on the local regulatory framework and market structure.

The integration of decentralized technologies and 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.