Can bypass Taiwan Financial Supervisory Commission (FSC) rules on buying crypto with credit cards be possible? OdinTech launches the Wallet Pro service for buying crypto with U.S. debit cards

OwlTing has launched the OwlPay and Wallet Pro services. By partnering with international payment giants 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 (supplementing OwlTing Group’s statement in the third paragraph of this article)】

From e-commerce to fintech, OwlTing’s cross-border payments rollout shows strategic ambition

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

The company’s transformation journey is quite remarkable. It began with an e-book platform called “Ebook” (Oubuke), then expanded into small-farmer e-commerce and blockchain traceability systems. Over the past decade, OwlTing has continuously tried to put blockchain technology into real-world practice—starting from early efforts to help the government build records for traceability of forest products, and later applying the technology to reservation inventory management in the hospitality industry. At present, OwlTing has shifted its focus entirely to fintech and launched its flagship cashflow service product OwlPay.

The company has positioned itself as a fintech firm. Through collaborations with international investment institutions such as Japan’s SBI, it aims to establish the infrastructure for stablecoin payments. OwlPay focuses on enterprise-grade B2B cross-border payments. It uses stablecoin technology to improve transfer speed and reduce transaction fees, with the goal of solving the dilemma of traditional banks’ cross-border settlement taking days and involving complex processes. What OwlTing demonstrates to the market is a vision of building an “Asia version” of the payment giant Stripe. Its development logic is to extend blockchain’s feature of preventing “double spending” from agricultural traceability and hotel inventory management to cashflow settlement. This strategy of moving from real-world applications to core financial services helps it show a unique business path in the fiercely competitive blockchain industry.

Wallet Pro links international payment infrastructure; its technical architecture enables cross-border buying and exchanging

Wallet Pro, the personal payment wallet launched by OwlTing, is an important step in its entry into the virtual-asset retail market. The product’s core competitiveness is built on its partnership with international payment giant MoneyGram, targeting use cases focused on remittances from 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 storefronts, and then make cross-country transfers. The biggest highlight on the technical side is that its architecture is directly connected to the Visa Direct system and clearly marked as supporting transactions using “United States” signature debit cards.

This model demonstrates OwlTing’s advantage as an offshore entity of a company listed in the United States. Through direct connectivity with international card networks, Wallet Pro can process funds flow from U.S. card-issuing institutions, thereby enabling integration between virtual-asset settlement and traditional fiat currency settlement systems.

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

Avoiding domestic regulatory constraints; offshore service entities challenge the scope of legal jurisdiction

The U.S. signature card buy-and-coin service launched by OwlTing has sparked deep discussion in the market about the regulatory boundary. Since the business directly connects to the Visa Direct system and supports U.S. signature debit cards, its nature is essentially an offshore transaction service.

Against the backdrop of Taiwan’s Financial Supervisory Commission strictly prohibiting domestic banks’ cards from conducting virtual-asset transactions, OwlTing’s model offers a technical solution. This business is judged as cross-border services provided by an offshore company, not simply a domestic business, and therefore can operate outside the specific rules currently targeting Taiwan virtual-asset service providers (VASPs).

The FSC’s regulatory scope mainly focuses on domestic companies and businesses providing services within Taiwan. For business activities where domestic companies operate offshore and connect to foreign financial systems, it typically falls outside its jurisdiction. When users use U.S. signature debit cards, the resulting transaction activities occur under the U.S. financial regulatory framework, not within Taiwan’s regulatory jurisdiction.

This “offshore service, domestic use” model is a strategy adopted by many fintech companies with international backgrounds. In response to external doubts, OwlTing’s CEO showed a tough stance, emphasizing that if 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) issued the following clarifications to Crypto City《加密城市》:

1. Emphasize that the OwlPay USD stablecoin signature debit card function is currently provided only to U.S. users, not launched within Taiwan, and not open to Taiwan users. The service must be used through eligible bank signature debit cards issued in the United States, and it includes 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 regulated by U.S. federal and state-level financial laws, including anti-money laundering compliance requirements under the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN).

OwlTing also reiterates that the Group complies with the laws of the jurisdictions where it operates worldwide. If it promotes any Taiwan-local related financial services in the future, it will obtain full approvals from the competent authorities in advance. This legal distinction of “offshore services, domestic entity” clearly defines the territoriality of its services.

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

On April 9, 2026, the Executive Yuan formally approved the draft of the Virtual Asset Service Act, symbolizing that Taiwan’s virtual-asset industry has entered a new stage of legalized, regulated management. The bill subdivides virtual-asset service providers into seven categories: trading platforms, exchange businesses, transfer service providers, custodians, issuers, investment advisers, and other announced service providers, among others, and it will fully adopt a license-based regulatory 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 a heavy penalty provision of up to NT$200 million for fraud-related conduct. The purpose of this law’s publication is to improve business operations and protect the rights and interests of traders. For domestic operators, it represents a major compliance challenge.

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

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

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

The integration of decentralized technology and cross-border financial networks is continuously challenging traditional territorial regulatory frameworks. Market participants will continue to test how accommodating the regulations are, seeking a balance between innovation and compliance.