Mastercard Taiwan announced on March 16 that it has signed a memorandum of understanding with Fubon Digital, a wholly owned subsidiary of Taiwan Mobile, focusing on three main areas. These include optimizing on-chain transfers with Crypto Credentials, enabling seamless connection between virtual assets and bank accounts, and strengthening digital asset trading and settlement infrastructure.
(Background: Mastercard enables “USDC settlement”! Integrating Web3 wallets for cryptocurrency payments)
(Additional context: What will happen when Visa and Mastercard fully adopt stablecoin payments?)
Using cryptocurrency for checkout at convenience stores is accelerating toward reality in Taiwan. After TWEX launched in May 2025 and opened to the public in January this year, Fubon Digital has partnered with Mastercard with the goal of transforming cryptocurrencies from “assets on exchanges” into “everyday usable payment tools.”
Mastercard Taiwan General Manager Chen Yiwen stated that both parties will jointly explore three major application scenarios and introduce three solutions already deployed globally by Mastercard.
Three tools addressing three pain points
Crypto Credential targets the biggest pain point in on-chain transfers: long and complex wallet addresses, where a single typo can cause irreversible loss. This system replaces wallet addresses with simple user aliases combined with identity verification, significantly lowering the transfer barrier.
Multi-Token Network (MTN) acts as a bridge, connecting blockchain and traditional financial systems, allowing banks and financial institutions to access cross-ecosystem digital asset settlement services via APIs — the underlying technology for “seamless connection between virtual assets and bank accounts.”
Crypto Card Program directly targets consumers: cardholders can use virtual assets stored in their wallets to pay at over 150 million Mastercard merchants worldwide, without converting to fiat currency first. These three tools together form the complete blueprint of the MoU between Fubon Digital and Mastercard.
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