Taiwan Mobile's wholly-owned subsidiary, Fu Sheng Digital, announced today the official launch of its virtual asset exchange, Taiwan DA Virtual Asset Exchange (TWEX). Marking a significant milestone as the first such platform established and backed by a major Taiwanese corporate group, TWEX aims to provide a secure, simple, and low-threshold entry point for newcomers to virtual asset investing. The launch was strategically timed to coincide with "Bitcoin Pizza Day," a symbolic date in the crypto community.
A Secure and User-Friendly Gateway to Digital Assets
Taiwan DA Virtual Asset Exchange (TWEX) is designed with a primary focus on accessibility and security for new investors. The platform addresses common pain points by offering an intuitive and safeguarded environment for those taking their first steps into the world of cryptocurrencies.
Core Features for New Investors
The platform is built around three key principles: security, simplicity, and small-amount purchases.
- Security: The exchange prioritizes the safety of user assets with robust protection measures.
- Simple Operation: Transactions are streamlined into an intuitive three-step process.
- Low Barrier to Entry: Users can start investing with as little as 100 New Taiwan Dollars to purchase Bitcoin or Ethereum.
To further assist beginners, the platform provides simulator tools for both trading and TWD deposit/withdrawal processes. This allows users to familiarize themselves with the interface and workflows without risking real funds. Additionally, understanding the complexities of on-chain transfers, TWEX will not initially offer external wallet transfers, significantly reducing the risk of user error and potential loss.
Corporate Leadership Embraces Web3 Innovation
The launch was championed by top executives from the founding corporate group, highlighting the strategic importance of this venture into the digital asset ecosystem.
Chairman's First Bitcoin Purchase
In a powerful demonstration of confidence in the platform, Mr. Tsai Ming-chung, Chairman of the Group, purchased his first Bitcoin on TWEX. In a pre-recorded message, he stated that he had long been eager to participate in virtual asset trading and was finally able to do so on a secure and trustworthy platform built with the group's involvement. He extended an invitation for the public to join the Web3 movement and become participants in this new digital era.
Chairman Tsai emphasized that global virtual assets are entering a phase of institutionalization and standardization, destined to become more integrated with traditional financial systems. He noted the growth of local ecosystem communities in Taiwan and pointed to the booming AI and blockchain industries, with the global virtual asset market capitalization exceeding $3.1 trillion.
Building a Trusted and Compliant Ecosystem
Mr. Jamie Lin, Chairman of Fu Sheng Digital, underscored the commitment to creating a secure trading environment. He revealed that while approximately 5% of Taiwan's population has engaged with virtual assets, a significant portion of potential investors remain on the sidelines, seeking a reliable and easy-to-use platform.
TWEX leverages the full resources of its parent group, incorporating a trust account with a major bank and utilizing strong technical and financial backing. Mr. Lin shared his personal experience as a long-term Bitcoin holder, having purchased his first coin in late 2013. He expressed that TWEX aims to operate under the strictest governance, with high compliance and anti-money laundering standards, to bring positive value to the market and help mainstream the industry.
Mr. Lin compared the current state of blockchain to the early internet circa 1998, noting there are over 220 million active on-chain addresses monthly. He cited growing institutional adoption and a shifting regulatory landscape in places like the United States as key drivers for future growth.
How to Start Trading on TWEX
The integration of the exchange within the existing ecosystem makes access remarkably straightforward for a large user base.
Currently, users can directly access Taiwan DA Virtual Asset Exchange (TWEX) through the main Taiwan Mobile app, eliminating the need to download a separate application. The process involves:
- Opening the Taiwan Mobile app.
- Navigating to the TWEX section.
- Registering and beginning to trade.
The platform offers flexible transaction methods, including pre-deposit and post-trade payment options. As mentioned, the initial focus is on a custodial model where users can buy and sell assets (BTC and ETH) directly on the exchange, later withdrawing TWD to their bank accounts, which simplifies the experience and enhances security for newcomers.
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Frequently Asked Questions
What is Taiwan DA Virtual Asset Exchange (TWEX)?
TWEX is a virtual asset trading platform launched by a major Taiwanese corporate group. It is designed to be a secure and user-friendly entry point for beginners interested in buying cryptocurrencies like Bitcoin and Ethereum.
How do I start trading on TWEX?
If you are an existing user, you can access TWEX directly through the Taiwan Mobile app. After registering on the platform, you can fund your account and begin trading with as little as 100 TWD.
Is TWEX safe for beginners?
Yes, the platform is built with security as a top priority. It uses advanced security modules for cold wallet storage and offers simulator tools to practice trading. By initially restricting complex on-chain transfers, it minimizes the risk of user error.
Which cryptocurrencies can I trade on TWEX?
At launch, the platform supports trading for Bitcoin (BTC) and Ethereum (ETH).
What are the fees for trading?
The announcement did not specify detailed fee structures. Users should consult the official TWEX website or platform within the app for the most accurate and current information on trading and transaction fees.
Can I transfer my crypto to an external wallet?
Currently, TWEX does not support transferring virtual assets to external wallets. This design protects users from the risks associated with incorrect on-chain transactions. To access funds, users sell their assets on the exchange and withdraw New Taiwan Dollars to their linked bank account.