Crypto Business Opportunities: Union Bank Launches Co-branded Card with Crypto Rewards
Union Bank of Taiwan announced a partnership with the digital asset platform MaiCoin Group to issue a co-branded credit card. Reward points ('U Points') earned from daily spending can be exchanged for Bitcoin, Ethereum, USDT, and other cryptocurrencies, allowing cardholders to accumulate digital assets through consumption.
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- 📰 Published: April 22, 2026 at 18:56
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(Central News Agency, Taipei, 22nd) As virtual assets become increasingly popular, financial institutions are actively expanding their market presence. Union Bank of Taiwan announced today its partnership with the digital asset trading platform MaiCoin Group to co-issue a credit card. Reward points 'U Points' accumulated from daily spending can be redeemed for equivalent vouchers for Bitcoin, Ethereum, Tether (USDT), USD Coin, and MAX Token, enabling cardholders to build up digital assets.
At a press conference for the new card today, Union Bank General Manager Xu Weiwen stated that the 'Union MaiCoin Co-branded Card' is a new type of credit card. Rewards from every transaction can be converted into virtual currency, aiming to enhance the consumer experience and allow cardholders to accumulate digital assets while spending.
Xu mentioned that after accumulating 'U Points,' cardholders can choose to redeem them for vouchers of different types of cryptocurrencies such as Bitcoin, Ethereum, USDT, USDC, and MAX Token. This is to provide consumers with freedom of choice. For example, USDT and USDC are basically pegged to the US dollar, while those who prefer coins with higher volatility may choose Bitcoin or Ethereum.
Regarding recent market rumors that several financial institutions intend to include the virtual asset industry into their territory through mergers and acquisitions, Xu analyzed that each bank has a different strategy. Mergers can deeply combine the businesses of both parties; on the other hand, considering that blockchain technology and cryptography are not a bank's expertise, Union Bank focuses on collaborating with platform operators. For investment, Union Bank has already invested in MaiCoin Group and will further link businesses as regulators open up.
Union Bank was approved last year to pilot virtual asset custody services. Xu stated that the custody business can be divided into four levels: first, safeguarding assets for platforms like MaiCoin; second, expanding to professional institutional investors; third, high-net-worth clients and natural persons; and finally, ETFs issued by investment trust companies.
Xu said that Union Bank is currently in the first stage, which is helping MaiCoin safeguard the exchange's virtual coins. Subsequent stages require different internal controls and systems, and the whole world is still developing and learning in this regard.
MaiCoin Group Chairman Liu Shiwei observed that as cryptocurrency becomes mainstream, public attention to the industry is rising. However, many potential users, although interested in digital assets, stay on the sidelines due to the effort required to understand them. He hopes the co-branded card will let cardholders start from familiar spending scenarios to gradually build understanding and join the digital asset ecosystem.
Union Bank's Executive Vice President of Credit Card and Payment Finance, Xiong Lingrong, expressed hope that the card could reach a goal of 20,000 cards within 3 to 6 months of launch and will continue to observe user acceptance of the new card.
At a press conference for the new card today, Union Bank General Manager Xu Weiwen stated that the 'Union MaiCoin Co-branded Card' is a new type of credit card. Rewards from every transaction can be converted into virtual currency, aiming to enhance the consumer experience and allow cardholders to accumulate digital assets while spending.
Xu mentioned that after accumulating 'U Points,' cardholders can choose to redeem them for vouchers of different types of cryptocurrencies such as Bitcoin, Ethereum, USDT, USDC, and MAX Token. This is to provide consumers with freedom of choice. For example, USDT and USDC are basically pegged to the US dollar, while those who prefer coins with higher volatility may choose Bitcoin or Ethereum.
Regarding recent market rumors that several financial institutions intend to include the virtual asset industry into their territory through mergers and acquisitions, Xu analyzed that each bank has a different strategy. Mergers can deeply combine the businesses of both parties; on the other hand, considering that blockchain technology and cryptography are not a bank's expertise, Union Bank focuses on collaborating with platform operators. For investment, Union Bank has already invested in MaiCoin Group and will further link businesses as regulators open up.
Union Bank was approved last year to pilot virtual asset custody services. Xu stated that the custody business can be divided into four levels: first, safeguarding assets for platforms like MaiCoin; second, expanding to professional institutional investors; third, high-net-worth clients and natural persons; and finally, ETFs issued by investment trust companies.
Xu said that Union Bank is currently in the first stage, which is helping MaiCoin safeguard the exchange's virtual coins. Subsequent stages require different internal controls and systems, and the whole world is still developing and learning in this regard.
MaiCoin Group Chairman Liu Shiwei observed that as cryptocurrency becomes mainstream, public attention to the industry is rising. However, many potential users, although interested in digital assets, stay on the sidelines due to the effort required to understand them. He hopes the co-branded card will let cardholders start from familiar spending scenarios to gradually build understanding and join the digital asset ecosystem.
Union Bank's Executive Vice President of Credit Card and Payment Finance, Xiong Lingrong, expressed hope that the card could reach a goal of 20,000 cards within 3 to 6 months of launch and will continue to observe user acceptance of the new card.