Taiwan Mobile’s decision demonstrates the growing interest of conventional sectors in capitalizing on the possibilities of cryptocurrencies and blockchain technology.
Taiwan Mobile Co Ltd (TPE: 3045), one of Taiwan’s prominent telecommunications companies, has expressed its openness to potential alliance opportunities with Taiwanese firms specializing in crypto.
As reported by Bloomberg, the company is reportedly engaging in discussions with various Taiwanese firms that specialize in digital currencies. This includes the fintech blockchain company XREX.
According to sources familiar with the matter, the talks aim to assess potential alliance opportunities and explore potential investments. However, no decisions have been made, and a deal may not be reached, according to the sources.
XREX, a fintech and blockchain company, is known for its expertise in providing a secure and efficient platform for cryptocurrency transactions. The specific benefits and objectives of a potential alliance between Taiwan Mobile and crypto-focused companies remain undisclosed.
However, such collaborations may provide mutual benefits. Collaboration with crypto enterprises could enable Taiwan Mobile to explore new business models, services, and revenue sources inside the digital asset ecosystem. Additionally, these collaborations may make it easier to integrate blockchain technology into telecoms infrastructure, improving efficiency, security, and customer services.
In response to inquiries about alleged talks between Taiwan Mobile and XREX, TaiwanMobile claimed that it is “open to any potential opportunities.” However, the corporation made no further remarks or provided any additional information on the situation.
Similarly, Wayne Huang, co-founder of XREX, refused to clarify whether his company is currently in talks with Taiwan Mobile. However, the co-founder highlighted that there are significant synergies between established institutions like telecom companies and blockchain firms like XREX.
Huang points out that organizations such as telecommunications corporations already have a large user base that has gone through the appropriate Know-Your-Customer (KYC) requirements. On the other hand, XREX brings its resources, and domain expertise in blockchain technology and cybersecurity to the table.
Collaborations Between the Telecom and Crypto Firms
Notably, Taiwan Mobile’s decision demonstrates the growing interest of conventional sectors in capitalizing on the possibilities of cryptocurrencies and blockchain technology.
The growing popularity and usage of crypto have driven established firms from a variety of industries to seek collaborations and investments in the blockchain and crypto sectors. By demonstrating a willingness to engage with crypto-based firms, Taiwan Mobile acknowledges the potential for innovation and growth within this emerging industry.
In a significant move, NTT Docomo, the largest mobile telephone operator in Japan, announced last year its intention to partner with Irish-American IT company Accenture, on Web3 implementation. According to the agreement, NTT Docomo would invest up to 600 billion yen ($4 billion) in Web3 infrastructure in the East Asian corporation.
This initiative is part of a larger plan by the largest Japanese mobile telecom provider to use the Web3 space with its existing capabilities. Meanwhile, Japan has adopted a Web3 white paper, which could propel the East Asian country to the forefront of global crypto development.
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