Is it possible to bypass Financial Supervisory Commission regulations to buy crypto by card? Odingding rolls out a U.S. debit card crypto purchase service, Wallet Pro

OwlTing (OdinTing) launches its OwlPay and Wallet Pro services. By partnering with major international payments players and leveraging stablecoin technology, it enables B2B cross-border payments, and uses the advantages of an offshore entity to connect with international financial systems.

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

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 has been quite notable. It began in the early days with an ebook platform called “Ebookket,” and later moved into small-farmer e-commerce and blockchain traceability systems. Over the past decade, OwlTing has continuously tried to put blockchain technology into practice, from helping the government build records for traceability of forestry products, to later applying the technology to reservation inventory management for the hospitality industry. At its current stage, OwlTing has fully shifted its focus to fintech, launching its flagship cashflow service product OwlPay.

The company has positioned itself as a fintech company. Through partnerships with international investment institutions such as Japan’s SBI, it aims to build foundational infrastructure for stablecoin payments. OwlPay focuses on enterprise-grade B2B cross-border payments. By using stablecoin technology, it speeds up transfers and reduces transaction fees, aiming to address the situation where traditional banks’ cross-border settlement takes days and involves overly complex processes. The vision OwlTing presents to the market is to build an Asia-style payments giant like Stripe. Its development logic is to extend blockchain’s “double-spending prevention” features from agricultural traceability and hotel inventory management all the way to cashflow settlement. This strategy of shifting from real-world applications to core financial services enables it to show a distinctive business path amid intense competition in the blockchain industry.

Wallet Pro links international payment infrastructure, and its technical architecture enables cross-border buying of crypto

Wallet Pro, the personal payments wallet launched by OwlTing, is an important step as it enters the retail market for virtual assets. The product’s core competitiveness is built on its partnership with international payments giant MoneyGram, with application scenarios focused on remittances for migrant workers and personal cross-border cashflow.

Using blockchain technology, Wallet Pro enables users to buy $USDC stablecoins with cash at specific physical retail outlets and then make international transfers. The biggest technical highlight of this product is that its architecture directly connects to the Visa Direct system, and it clearly notes support for transactions using “U.S.” branded debit cards.

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

Although the service is currently designed for U.S.-issued debit cards, its core technical logic demonstrates the possibility of providing users with an asset-conversion pathway through offshore compliant channels. This design reflects the company’s flexibility in product strategy, and it seeks to find more efficient funding channels for virtual asset use within the existing international financial network.

Avoiding domestic regulatory constraints, offshore service entities challenge the boundary of legal jurisdiction

OwlTing’s U.S. debit-card buy-crypto service has sparked deep discussions in the market about the boundary of regulation. Because the business directly connects to the Visa Direct system and supports U.S. branded debit cards, its essence is an offshore transaction service.

Against the backdrop of Taiwan’s Financial Supervisory Commission strictly prohibiting domestic banks’ cards from engaging in virtual-asset transactions, OwlTing’s model offers a technical solution. This business is deemed to be cross-border services provided by an offshore company, rather than a simple domestic business. Therefore, it can operate outside the scope of the specific regulations currently applied to Taiwan virtual-asset service providers (VASPs).

The FSC’s regulatory scope mainly focuses on domestic companies and those providing services within Taiwan. For businesses conducted by domestic companies offshore while connecting to foreign financial systems, it typically falls outside its jurisdiction. When users use U.S. branded debit cards, the resulting transaction activity takes place under the U.S. financial regulatory system, not within Taiwan’s 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 took a firm stance, emphasizing that if media or individuals distort information, it may constitute misleading market conduct—reflecting the company’s determination to maintain the legality of its cross-border business and its market image.

A draft Virtual Asset Services Act is finalized; a new pathway for offshore firms to enter the market

On April 9, 2026, Taiwan’s Executive Yuan officially approved the draft “Virtual Asset Services Act,” symbolizing a new phase in the legalization and regulated management of Taiwan’s virtual-asset industry. The bill divides virtual-asset service providers into seven major categories: trading platforms, exchange providers, transfer service providers, custodians, issuers, investment advisers, and other publicly announced providers, among others, and it fully adopts a licensing-and-permit 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 severe penalties of up to 200 million yuan for conduct involving fraud. The publication of this legislation aims to strengthen business operations and protect the rights and interests of traders, and it is a major compliance challenge for domestic providers.

• Related news: 2026 latest》Virtual Asset Services Act draft quick guide: stablecoins, licenses, and penalties all explained

In an environment where compliance thresholds are raised, OwlTing’s offshore detour model has triggered open-ended thinking about future market competition. As Taiwan’s virtual-asset regulations become increasingly strict, will this approach—using an offshore entity identity and connecting with 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 limitations, if service providers with international backgrounds 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 continuously challenging traditional locality-based regulations. Market participants will keep testing how tolerant the regulations are, seeking a balance between innovation and compliance.