The CPBL All-Star Game, Taiwan’s annual baseball extravaganza, brings together the best players from across the island, along with passionate fans. This year, CoinEx became the first cryptocurrency exchange to sponsor this prestigious event. So, who is CoinEx?
The First Exchange to Sponsor the CPBL All-Star Game – What is CoinEx?
The CPBL (Chinese Professional Baseball League) All-Star Game, Taiwan’s premier baseball event, showcases the top players and draws the attention of countless fans. This year, for the first time, the event was held at Taipei Dome in July, attracting significant interest from baseball enthusiasts.
With the CPBL All-Star Game being such a major event in Taiwan, it naturally attracted numerous sponsors. However, what stood out was that the sponsor of the prime advertising space behind home plate was CoinEx, a cryptocurrency exchange relatively unknown in Taiwan.
Founded in 2017 by Haipo Yang. According to Stacy, CoinEx’s Public Relations Manager for Chinese-speaking regions, "CoinEx recognizes the importance of the Taiwanese market and plans to further invest in Taiwan by enhancing its products and services to establish a foothold in this highly competitive market." Sponsoring the CPBL All-Star Game is just one way CoinEx is working to raise its profile.
What Makes CoinEx Special?
In the fiercely competitive cryptocurrency market, CoinEx is known for its "fast listing" capabilities, which have attracted many crypto enthusiasts.
According to CoinEx’s Q2 report, the platform listed 164 new coins in the second quarter alone, bringing the total number of coins available to 1,106. These coins include popular categories like Layer 2, meme coins, AI, and DePIN, placing CoinEx in the top three globally for the number of listed coins.
CoinEx’s ability to quickly list new coins allows the platform to meet users’ needs in real-time, enabling them to capture early investment opportunities when new coins launch.
In addition to the exchange, CoinEx Group has expanded into other product lines, including the one-stop mining service the digital asset wallet CoinEx Wallet, the high-performance smart chain CoinEx Smart Chain. These products cater to a wide range of user needs, from asset storage to trading, creating a more comprehensive blockchain ecosystem.
At the heart of this ecosystem is CoinEx’s native token, CET (CoinEx Token).
CET can be used to deduct trading fees, provide liquidity rewards, and serve as a valuable resource for participating in various activities. CoinEx is committed to improving user experience and fostering interaction between users and the platform through the issuance and application of CET.
What’s Next for CoinEx?
As cryptocurrency-related ETFs gain approval this year, Bitcoin is making its way into the mainstream world. By 2024, few people are unaware of cryptocurrencies, though the level of understanding and acceptance still varies. However, since the U.S. government approved Bitcoin ETFs, many people's perceptions of cryptocurrency have begun to shift from "a scam" to "something valuable."
- Stacy commented, "It’s not that the ETF itself brings in a huge amount of trading volume and capital, but it has certainly attracted more people to learn about, recognize, and participate in this market. This may be the fundamental driver of the current bull market."
Additionally, Ethereum’s upgrade, which addresses blockchain scalability issues and reduces Layer 2 transaction costs, will benefit Layer 2, Layer 2-based DeFi, and fully on-chain games, spurring more financial innovations such as liquidity staking. This will attract more developers and users, driving the future development of the entire industry.
Going forward, CoinEx will continue to expand its global presence, aiming to bring the benefits of blockchain technology to users in more regions and promote the global adoption and application of blockchain.
Stacy also noted that Taiwan is one of the more mature markets in Asia’s cryptocurrency sector, with an open market environment and a solid base of active investors. These advantages are largely due to the support and positive stance of the local government toward the industry.
However, in July this year, Taiwan’s Legislative Yuan passed amendments to the Anti-Money Laundering Act, bringing virtual asset service providers (VASPs) and third-party payment services under regulatory supervision. In the future, any provider offering virtual asset services will be required to complete anti-money laundering (AML) and service capability registration. Failure to do so will result in severe criminal and administrative penalties.
This means that if CoinEx, as an overseas exchange, wishes to continue providing services in Taiwan, it will need to comply with Taiwan’s AML regulations and local registration requirements, adhering to the relevant laws and regulations.
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