Is it possible to bypass Financial Supervisory Commission (FSC) rules for buying crypto with card payments? O’DinDin promotes Wallet Pro, a service for buying crypto with a U.S. card payment

OwlTing has launched the OwlPay and Wallet Pro services. By partnering with international payments giants and leveraging stablecoin technology, it enables B2B cross-border payments, and uses the advantages of having an offshore entity to connect with the international financial system.

Shifting from e-commerce to fintech, OwlTing’s cross-border payments strategy shows its ambition

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

The company’s transformation has been quite significant. It began with the e-book platform “Ebook” (Oubuke), then expanded into small-farmer e-commerce and blockchain provenance-tracking systems. Over the past decade, OwlTing has continuously worked to bring blockchain technology into real-world use—starting with helping the government establish records for tracking forest product provenance, and later applying the technology to reservation inventory management in the lodging industry. At this stage, OwlTing has fully shifted its focus to fintech and launched its flagship cash-flow (payments) service product OwlPay.

The company has positioned itself as a fintech firm, and through partnerships with international investment institutions such as Japan’s SBI, it aims to build foundational infrastructure for stablecoin payments. OwlPay is designed for enterprise-grade B2B cross-border payments; by using stablecoin technology, it improves transfer speed and reduces fees, aiming to address the dilemma of traditional banks’ cross-border settlement taking days and involving overly complicated procedures. What OwlTing wants to show the market is the vision of building an Asia-based payments giant like Stripe. Its development logic is to extend blockchain’s “prevention of double spending” feature—from agricultural traceability and hotel inventory management to cash-flow settlement. This strategy, which moves from real-world applications to financial-core services, enables it to present a distinct business path in the intensely competitive blockchain industry.

Wallet Pro connects international payment rails, and its technical architecture enables buy-and-send across borders

Wallet Pro, the personal payment wallet launched by OwlTing, is an important implementation of its entry into the retail virtual-asset market. The core competitiveness of this product is built on its cooperation with international payments giant MoneyGram, with use cases focused on remittances from migrant workers and personal cross-border cash-flow.

Wallet Pro uses blockchain technology so that users can buy $USDC stablecoins with cash at specific physical retail stores and then complete international transfers. The biggest technical highlight of this product is that its architecture is directly connected to the Visa Direct system, and it explicitly states support for transactions using “US” signature debit cards.

This model demonstrates OwlTing’s offshore entity advantage as a company listed in the United States. Through direct connectivity with international card networks, Wallet Pro can process cash-flows originating from US card issuers, thereby enabling integration between virtual-asset settlement systems and traditional fiat settlement systems.

Although this service is currently designed for signature cards issued in the United States, its core technical logic demonstrates the possibility of providing users with asset-conversion routes via offshore, compliant channels. This design reflects the company’s flexibility in product strategy and attempts to find more efficient funding (inbound) pathways for the use of virtual assets within the existing international financial network.

Avoiding onshore regulatory constraints, offshore service entities challenge the boundaries of regulatory jurisdiction

OwlTing’s US signature card buy-and-coin service has sparked in-depth discussions in the market about the regulatory boundary. Because this business directly integrates with the Visa Direct system and supports US signature debit cards, its nature is that of an offshore transaction service.

Against the backdrop of Taiwan’s Financial Supervisory Commission (FSC) strictly prohibiting domestic banks’ cards from engaging in virtual-asset transactions, OwlTing’s model provides a technical solution. This business is determined to be cross-border services provided by an offshore company, not merely an onshore business; therefore, it can operate outside the specific regulations currently applicable to Taiwan’s virtual asset service providers (VASP).

The FSC’s regulatory scope mainly focuses on domestic companies and entities providing services within Taiwan. For business operations by domestic companies conducted offshore and connected to foreign financial systems, it is typically beyond its jurisdiction. When users use US signature debit cards, the resulting transaction activities occur under the US financial regulatory framework, not within Taiwan’s jurisdiction.

This “offshore services, onshore usage” model is a strategy currently adopted by many fintech companies with international backgrounds. In response to external doubts, OwlTing’s CEO has taken a firm stance, emphasizing that if media or individuals misrepresent information, it may constitute misleading market conduct. This reflects the company’s determination to maintain the legality of its cross-border business and protect its market image.

Virtual asset service act draft finalized, new pathways for offshore players to enter the market

On April 9, 2026, the Executive Yuan officially approved the draft of the “Virtual Asset Service Act,” symbolizing a new stage in the rule-of-law management of Taiwan’s virtual-asset industry. The bill divides virtual-asset service providers into seven categories: trading platforms, exchange operators, transfer service providers, custodians, issuers, investment advisers, and other publicly announced providers, and it adopts a licensing regime in full.

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

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In an environment where compliance thresholds are raised, OwlTing’s offshore detour model has prompted open-ended thinking about future market competition. As Taiwan’s virtual-asset rules become increasingly stringent, will this approach—leveraging the identity of offshore entities and connecting to international financial infrastructure—become the standard practice for other offshore operators to enter the Taiwan market?

When domestic operators must shoulder high compliance costs and business restrictions, if service providers with an international background continue to offer more flexible funding (inbound) choices through technical means, it will have a profound impact on the local regulatory system and market structure.

The integration of decentralized technologies and cross-border financial networks is continually challenging traditional regional regulations. Market participants will keep testing how flexible the regulations can be, seeking a balance between innovation and compliance.