Peng Jin-lung: Financial Market Moving Towards Parallel Development of Three Tracks, Building a Mutual Ecosystem

(CNA reporter Su Ssu-yun, Taipei, July 8) Facing the rapid development of artificial intelligence, virtual assets, and new technology applications, Financial Supervisory Commission Chairman Peng Jin-lung stated that the financial market will gradually move towards the parallel development of traditional finance, digital finance, and blockchain finance, referred to as "three-track finance." The FSC will continue to provide support for innovative teams at different stages of development, building a mutually supportive and shared fintech ecosystem.

The FSC announced in a press release today that to strengthen interaction with fintech startup teams, three "Chairman Meets Startups" symposiums were held at the Fintech Space (FinTechSpace) on May 20, June 4, and June 17 of this year. Peng Jin-lung personally engaged with 29 fintech startup teams, and most participating teams expressed their hope for the continuation of such exchange activities annually.

Peng Jin-lung stated that in the face of the rapid development of artificial intelligence, virtual assets, and new technology applications, the financial market will gradually move towards the parallel development of traditional finance, digital finance, and blockchain finance, the "three-track finance." The FSC will continue to promote FinTechSpace 2.0 (Fintech Innovation Park 2.0), providing precise support for startup teams at different stages of development, and building a mutually supportive and shared fintech ecosystem.

Peng Jin-lung pointed out that in response to the trend of new technology applications, the FSC adheres to the principle of "neither rash nor lagging behind." While balancing risk management and financial resilience, it adopts a strategy of co-advancing safety and development, allowing financial innovation to develop steadily on the foundation of acceptable risk.

The FSC stated that startup teams shared significant achievements in blockchain technology and services, public-private sector collaboration in fraud prevention, and smart wealth management during the symposiums. They also raised questions regarding whether their business models comply with regulations and the FSC's future policy directions, and highlighted challenges such as difficulty in obtaining financial data and collaborating with financial institutions.

In response to the suggestions made by the teams, Peng Jin-lung said that the financial industry is a highly regulated industry. Although the process of entering the financial market may not be easy for startup teams, appropriate management and regulations can increase the opportunities for innovative services to be understood and adopted by the market. The FSC will continue to promote exchanges between financial institutions and startup teams through the Fintech Space, the Fintech Industry Alliance, and relevant industry associations. It also encourages businesses to utilize innovation experiments and business trial mechanisms to validate innovative ideas and assist in the implementation of innovative technologies. (Editor: Lin Chia-hsien) 1150708

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