Taiwan Mobile, the second largest telecommunications provider in Taiwan, received a license from the Financial Supervisory Commission (FSC) to provide crypto services on July 5.

Bloomberg said Taiwan Mobile is looking for partners in Taiwan’s cryptocurrency market, suggesting the company could be working on establishing a cryptocurrency exchange.

The approval marks Taiwan Mobile as the 26th virtual asset service provider (VASP) registered in Taiwan, following companies such as MaiCoin, BitoPro, and XREX.