Wayne CEO of XREX discusses how Taiwans cryptocurrency group is helping Tether achieve dollar neutrality

Dynamex will hold an AMA event on the evening of June 18th (Tuesday) at 20:00 (UTC+8), with Wayne, the co-founder and CEO of XREX, a Taiwan crypto giant, to discuss the details of Taiwan’s crypto regulation and Tether becoming its strong investor!
(Background:
ABS 2024 is back! The Asian Blockchain Summit 8/6-8/8 is rekindling the revolutionary wave of blockchain, AI, and future governance)
(Background Supplement:
AMA Preview》XREX reveals the secrets behind Tether’s investment, is Taiwan’s crypto regulation moving at a rapid pace?)
Table of Contents
Thinking about how to draw on the success of Taiwan’s semiconductor industry
Regulation favors industry players going abroad
Taiwan’s regulatory environment is poised to overtake
How to collaborate with Tether
Tether’s path to dollar neutrality
Dynamex will hold an AMA event on the evening of June 18th (Tuesday) at 20:00 (UTC+8), with the theme “XREX Joins Hands with Tether, What Will Be the Next Step in Global Crypto Regulation?” It will specially invite Wayne, the co-founder and CEO of XREX, a Taiwan crypto giant, to share the major breakthroughs of XREX this year and the next steps in Taiwan’s regulation.
Since the establishment of the VASP Association Preparatory Group in September 2023, the Preparatory Group has held dozens of meetings during this year and a half of the process… The association has gone from the Preparatory Group to the Preparatory Meeting, and until June, the Taiwan Virtual Currency Association was officially established. As the convener, XREX’s co-founder Winston has spared no effort in promoting Taiwan’s crypto regulation during this period, and Wayne also admitted that the process of reaching today has been challenging for everyone.
It’s not just the familiarity of the industry with each other that Wayne mentioned in the AMA. Due to lack of experience in the early stages, the definition of classification and rules were rejected by the Ministry of the Interior, but at the same time, the Ministry of the Interior also provided a lot of help, prosecutors pointed out many problems, especially that the election rights of members cannot be deprived. Under the guidance of the Ministry of the Interior, the Taiwan Virtual Currency Association has learned a lot and has continued to communicate with the Financial Supervisory Commission.
In addition, establishing the association in an “adverse” environment is also a major challenge. Wayne stated that some prosecutors, based on a large number of past case handling experiences, do not believe in industry self-discipline at this time, believing that only special laws can solve the problem. Combined with the many external doubts about “self-discipline associations guarding against theft”, the Preparatory Group and the FSC did indeed encounter great resistance.
However, when it comes to the Financial Supervisory Commission, Wayne actually had high praise for the communication and assistance from government departments. Wayne stated that the association platform has accelerated the endorsement of the industry by the government behind the scenes, especially since the Executive Yuan’s anti-money laundering order in 2021, this has become more evident.
Wayne pointed out that these regulatory measures have made XREX’s development at home and abroad more stable. In the future, if domestic exchanges do not want to list abroad, they can also consider listing at home, which will become more feasible.
In Taiwan’s past regulation, we have seen some major changes from 2023 to 2024, and Dynamex also asked Wayne whether this time period will be considered a mature stage or a lagging stage for Taiwan’s nodes or local industry players in terms of actively raising the level of crypto regulation. Wayne said:
Looking back on history, XREX has a lineup of well-known investors, including the Executive Yuan’s National Development Fund, China Development, SBI Investment, Yuanshan Venture Capital, ThreeD Capital, AppWorks, Wanhong Capital, and New Economy Ventures, among others. The recent heavyweight news is that Tether, the world-renowned digital asset company and the leading stablecoin issuer USDT, has joined its investment lineup.
Wayne shared with us the entire process of XREX’s initial contact with Tether and Tether becoming its strong investor, a collaboration that not only demonstrates XREX’s strength and potential but also signals Tether’s high recognition of XREX’s future prospects.
So what were the main factors in Tether’s decision to invest 18.75 million U.S. dollars in the XREX Group?
It is understood that after this round of investment by Tether, XREX will mainly use it for the development of two major businesses. The first is to issue the XAU1 token in cooperation with the Unitas Foundation. XAU1 is a tokenized gold pegged to the value of the US dollar, with excess reserves of Tether Gold (XAUt). Wayne also shared with us the operating principle and thinking behind XAU1.
At the end of the AMA, Wayne revealed XREX’s future strategic layout. First, XREX will focus on cross-border payments, especially B2B payments. They are about to launch XREX Pay services in Singapore, aiming to become an overseas online bank for emerging countries, covering India, Vietnam, and other Southeast Asian countries. Users only need to download the app to use it, supporting stablecoins and fiat currencies, similar to Revolut, but with cryptocurrency features.
Secondly, XREX will develop digital asset wealth management and investment speculation services. It will be operated primarily by Taiwan Chain Stock Co., Ltd., serving users in India, Southeast Asia, and the Middle East. They are committed to providing a more comprehensive investment and trading service, designed specifically for users who are experienced in investment but new to cryptocurrencies.
The two seemingly simple headlines of “Tether invests 600 million Taiwan dollars” and “Taiwan Virtual Asset Association established” in June are both related to XREX, representing XREX’s efforts in the international arena and its assistance in promoting Taiwan’s crypto regulation. After this AMA, people are more looking forward to their performance and influence in the future global financial market!