Table of Contents
Singapore's Tokenize Xchange has unveiled plans to expand into Taiwan with a formal license application to Taiwan's Financial Supervisory Commission (FSC).
Set for January 2025, the move aligns with the company’s broader regional growth ambitions to establish a robust presence in key markets.
The license application will grant Tokenize the ability to operate legally in Taiwan and ensure that it remains fully compliant with local regulations while tapping into new growth opportunities.
As part of its expansion strategy, Tokenize plans to double its Taipei-based research and development (R&D) team by 150% from 20 to 50 employees by mid-2025.
The enhanced R&D team will support the platform’s expanding user base across Southeast Asia and wil drive blockchain innovation through its proprietary Titan Chain.
Titan Chain, built with Cosmos SDK and EVM compatibility, is designed to address key challenges such as high transaction fees and scalability, equipping developers with efficient and interoperable tools.
In September, Animoca Brands made a strategic investment in Titan Chain, offering support to Tokenize's ecosystem by providing market-making services, serving as Tokenize's biggest node validator, and listing its native token, TKX.
Blockhead
Tokenize already holds a Digital Asset Exchange license from Malaysia’s Securities Commission and benefits from a regulatory exemption in Singapore.
Founder and CEO of Tokenize Xchange, Hong Qi Yu, told Blockhead that Taiwan is "crucial" for the company's R&D ambitions because of its "advanced tech ecosystem and skilled talent pool."
"Its leadership in innovation aligns with our blockchain focus, while its supportive regulatory environment and strong tech partnerships make it an ideal base for exploring," he explained.
Looking ahead to 2025, Qi Yu said Toknize's goals will be "strengthening our presence across Asia, collaborating with leading industry partners to deliver innovative product suites, and driving digital asset adoption to empower businesses and individuals in the evolving Web3 economy."
Taiwan's Financial Supervisory Commission (FSC) is set to launch a pilot program for virtual asset custody services in early 2025. The pilot program comes as part of the FSC's broader efforts to foster innovation in the financial sector while ensuring consumer protection and market integrity.
Blockhead
The regulator has been working on a dedicated special law for the virtual asset industry, which is expected to be finalized by the end of this year.
