Can bypassing FSC regulations on using credit cards to buy crypto be possible? Odin Ding promotes a Wallet Pro service for buying crypto with US debit cards

OwlTing has launched the OwlPay and Wallet Pro services. By partnering with major international payment players and leveraging stablecoin technology, it enables B2B cross-border payments, and it also taps into advantages offered by offshore entities to connect with the international financial system.

From e-commerce to fintech, OwlTing’s cross-border payments rollout shows strategic 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 journey has been quite notable. It started out with the e-book platform “eBubook,” and later expanded into small-scale farmer e-commerce and blockchain traceability systems. Over the past decade, OwlTing has repeatedly tried to apply blockchain technology in real-world settings—from assisting the government in establishing traceability records for forest products in its early days, to later applying the technology to reservation inventory management in the hospitality industry. At its current stage, OwlTing has fully shifted its focus to fintech and launched its flagship cashflow services 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 the infrastructure for stablecoin payments. OwlPay focuses on enterprise-grade B2B cross-border payments, using stablecoin technology to improve transfer speed and reduce transaction fees, with the goal of solving the traditional banking cross-border settlement dilemma—taking days to complete and involving overly complex programming. The vision OwlTing presents to the market is to create an “Asia version” of the payments giant Stripe. Its development logic extends blockchain’s capability to prevent “double payments,” moving from agricultural traceability and hotel inventory management to cashflow settlement. This strategy of shifting from real-world applications to core financial services allows it to demonstrate a unique business path in a highly competitive blockchain industry.

Wallet Pro links international payment rails, and its technical architecture enables cross-border buy-to-coin

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

Through blockchain technology, Wallet Pro allows users to purchase $USDC stablecoins with cash at specific physical merchant locations and then make international transfers. The product’s biggest technical highlight is that its architecture directly connects to the Visa Direct system, and it clearly indicates support for transactions using “United States” signature debit cards.

This approach highlights OwlTing’s offshore-entity advantage as a U.S.-listed company. Through direct connections with international card organizations, Wallet Pro can handle cashflows originating from U.S.-issuing institutions, thereby enabling integration between virtual asset and traditional fiat settlement systems.

Although the 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 through offshore compliance channels. This design reflects the company’s flexibility in product strategy and its attempt to find more efficient funding channels 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-to-coin service has triggered in-depth discussions in the market about regulatory boundaries. Because this 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 (FSC) strictly prohibiting domestic banks’ cards from conducting virtual asset transactions, OwlTing’s model provides a technical solution. This business is assessed as cross-border services provided by an offshore company—not a purely domestic business—so it can operate outside the specific regulations currently applied to Taiwan’s virtual asset service providers (VASP).

The FSC’s regulatory scope mainly focuses on domestic companies and businesses providing services within Taiwan. For business activities conducted by domestic companies offshore that connect with overseas financial systems, they typically fall outside its jurisdiction. When users use a U.S. signature debit card, the resulting transaction activities take place under the U.S. financial regulatory system, not within Taiwan’s jurisdiction.

This “offshore services, domestic use” model is a strategy adopted by many fintech companies with an international background. OwlTing’s CEO has taken a tough stance in response to external questioning, emphasizing that if the media or individuals distort information, it may constitute misleading market conduct—reflecting the company’s determination to uphold the legality of its cross-border business and its market image.

The draft Virtual Asset Services Act has been finalized; a new route for offshore firms to enter the market

On April 9, 2026, the Executive Yuan officially approved the draft of the Virtual Asset Services Act, symbolizing that Taiwan’s virtual asset industry is entering a new stage of law-based management. The bill categorizes virtual asset service providers into seven major groups: trading platforms, exchange providers, transfer service providers, custody providers, issuers, investment advisers, and other publicly designated providers, and it will fully adopt a licensing-and-permits regime.

The new law imposes strict requirements on asset custody. It explicitly states that stablecoins may not be issued with interest, and it also establishes severe penalty provisions of up to 200 million yuan for conduct involving fraud. The publication of this law aims to improve business operations and protect the rights and interests of traders, and it is an enormous compliance challenge for domestic providers.

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

With compliance thresholds 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 offshore entity status and connecting to international financial infrastructure become the standard practice for other offshore providers entering the Taiwan market?

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

The integration of decentralized technology and cross-border financial networks is continually challenging traditional, geographically bounded regulations. Market participants will keep testing how accommodating the regulations are, seeking a balance between innovation and compliance.