XREX Group has won the Regulatory Excellence Award at the inaugural Asia FinTech Alliance Awards in Taipei, selected from 88 corporate nominations across the Asia-Pacific region after a multi-stage judging process that included live presentations and in-person questioning.
The award recognizes XREX’s regulated operations in Taiwan and Singapore and its work across virtual asset services, stablecoin-based cross-border payments and regulatory technology. Organizers also cited the company’s fraud-prevention and anti-money-laundering initiatives, placing compliance tools at the center of an awards programme designed to link fintech companies across 16 Asian economies.
The Asia FinTech Alliance, or AFA, named one winner in each of five award categories. Nominations were invitation-only and came through fintech associations within the alliance’s member economies, with each association permitted to nominate up to seven companies.
From 88 nominees to five winners
The initial pool of 88 companies was reduced to 30 candidates and then to 10 finalists during two evaluation rounds. Seven international judges assessed the finalists at the final round on September 1, where companies made live presentations and answered questions in person before category winners were selected.
Wilson Beh, vice chairman of the Asia FinTech Alliance, said during the ceremony that every company in the Top 30 would automatically receive AFA Affiliate Membership. The membership connects the companies to the alliance’s regional collaboration network, which spans 16 Asian economies.
For XREX, the recognition follows years of building services that combine conventional payment functions with cryptocurrency infrastructure. Founded in 2018, the group lists digital-asset custody, wallets, fiat-to-crypto conversion and cross-border payment services among its operations.
Its regulated footprint is split between Singapore and Taiwan, two markets that have taken different but increasingly formal approaches to supervising virtual-asset businesses. That structure gives XREX a platform to provide payment and digital-asset services under licenses and registrations that require compliance controls, rather than operating solely through offshore entities.
Singapore and Taiwan operations form the basis of recognition
In Singapore, XREX Pay operates under a Major Payment Institution license and offers business-to-business cross-border payments using stablecoins. Stablecoins are crypto tokens intended to maintain a stable value, often by being linked to a national currency such as the US dollar. Their use in cross-border settlement can reduce the number of intermediary steps involved in moving value between businesses, though providers remain subject to transaction-monitoring and anti-money-laundering obligations.
In Taiwan, XREX operates XREX Exchange as a virtual asset service provider. The company states that it completed an anti-money-laundering compliance declaration with Taiwan’s Financial Supervisory Commission in March 2022 and passed AML registration in September 2025, becoming one of 10 approved VASPs.
The two jurisdictions are relevant to the award’s regulatory focus. Singapore’s Major Payment Institution framework is intended for payment providers that exceed specified transaction thresholds, while Taiwan has developed a registration-based oversight regime for virtual-asset platforms. In both cases, authorization does not remove the risks associated with crypto transactions, but it subjects operators to requirements around customer checks, suspicious-activity monitoring and internal controls.
XREX’s award submission also highlighted its RegTech work. Regulatory technology generally refers to software used to help financial firms meet compliance duties, including identity verification, transaction monitoring, sanctions screening and the investigation of potentially illicit transfers.
XRAY targets faster blockchain screening
One XREX product cited in the company’s description is XRAY, a blockchain-address query tool aimed at traditional financial institutions, law-enforcement agencies and virtual asset service providers.
XRAY provides free wallet-risk screening and is designed to return a result within one second, according to XREX. The output can identify the platform associated with a wallet address, display risk-related information and on-chain labels, and show the type and amount of assets held by the address.
The service also includes fund-flow tracing for follow-up investigations. This function is intended to map the movement of assets across wallets, which can help compliance teams or investigators examine whether funds have interacted with addresses associated with fraud, theft or other suspicious activity.
XREX said the tool has integrated artificial-intelligence features designed to speed up analysis of complex fund movements. Such tools can help teams process a large number of blockchain connections, although investigative findings still require verification and context: a wallet’s transaction history may indicate exposure to risky activity without proving that its current holder committed wrongdoing.
The demand for more effective screening tools has risen alongside reported growth in online fraud. The Global Anti-Scam Alliance estimated that scams caused $442 billion in losses during the preceding year across 42 surveyed markets in its Global State of Scams 2025 report.
TRM Labs separately reported that approximately $35 billion in cryptocurrency flowed to fraud schemes during 2025. The figures measure different areas of a global fraud problem and should not be treated as directly comparable, but both point to the scale of criminal activity touching digital payment networks.
Compliance becomes a competitive test for payment firms
The AFA award gives XREX regional recognition at a point when virtual-asset companies are being assessed less on their ability to offer token trading and more on whether they can operate payment systems with controls suited to financial crime risks.
Cross-border stablecoin payments create a particularly demanding use case. Businesses want transfers to be fast and available across markets, while regulated providers must establish who is sending and receiving funds, monitor unusual transactions and respond to requests from authorities. Those requirements place wallet-screening, tracing and record-keeping tools closer to the core of a payment business.
XREX’s win does not independently validate every feature or performance claim made for its products. It does show that the AFA’s judges placed its combination of licensed operations, payment services and compliance technology ahead of other finalists in the regulatory category.
For companies seeking partnerships across Asia’s fragmented fintech landscape, the affiliate membership offered to the Top 30 may prove useful beyond the ceremony. The AFA network gives shortlisted firms access to associations in multiple markets, where licensing standards, payment rules and virtual-asset regulations can differ substantially.
For deeper insight into compliant VASP frameworks and licenses, explore this detailed VASP license guide next.
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