Taiwan Mobile, Taiwan's second largest telecommunications provider, has obtained a virtual asset service provider (VASP) license from the Financial Supervisory Commission (FSC).
This license allows the company to establish its own cryptocurrency exchange.
The company is now the 26th to receive a VASP license.
The company has been interested in entering the crypto market for more than a year and was reportedly considering buying an existing platform.
The license has been granted to its subsidiary, Fusheng Digital, and both companies are led by Lin Zhichen.
To obtain the VASP license, Taiwan Mobile has had to comply with strict anti-money laundering regulations.