Taiwanese fintech firm OwlTing has received approval to list directly on the Nasdaq, marking a major milestone for the country’s growing stablecoin and blockchain industry.
Trading is set to begin Thursday, October 16, under the ticker OWLS, according to a statement from parent company Obook Holdings, according to a Tuesday press release.
By choosing a direct listing, OwlTing is bypassing the traditional IPO route, avoiding the issuance of new shares and potential dilution of existing holdings. Founded by Darren Wang, OwlTing started in sectors like food traceability and hospitality before pivoting toward digital payment infrastructure.
By choosing a direct listing, OwlTing is bypassing the traditional IPO route, avoiding the issuance of new shares and potential dilution of existing holdings.
OwlTing’s 2024 prospectus shows $7.6 million in revenue, an 18.3% increase year over year, alongside a net loss of $10.3 million, up from $6.8 million in 2023. Despite the loss, the company’s listing signals investor interest in blockchain-driven payment solutions that bridge traditional finance with digital assets.
“Our journey has always been about solving real-world problems with compliance and transparency at the core,” Wang said.
The initiative, built on Visa Direct, is designed to reduce friction and eliminate the need for firms to hold large cash reserves across multiple currencies. It follows the passage of the GENIUS Act, which gave regulatory clarity for stablecoin issuers in the US. Targeting banks and remittance firms, the system is expected to speed up transactions and unlock dormant capital.
As reported, Visa has launched a pilot program that allows businesses to fund cross-border payments using stablecoins instead of pre-funding local accounts.
