Max Maicoin

The platform is operated by Modernity Financial Technologies Co., Ltd., part of the Modernity Financial Holdings Ltd. (MaiCoin Group) holding company. The group was founded by Danny Yang in 2013 as Taiwan's first cryptocurrency broker. MAX was launched in 2018 as a dedicated trading platform with support for TWD pairs. In 2021, the exchange completed its initial AML/CFT compliance filing with Taiwan's Financial Supervisory Commission (FSC), and in 2025 it obtained full registration as a Virtual Asset Service Provider (VASP). In 2024-2025, the MaiCoin Group received ISO 27001 certification for information security. The legal address and actual headquarters are in Taiwan; no relocations or rebrandings have been recorded. Shareholders include strategic investors: Far EasTone, Pegatron Venture Capital, Union Bank of Taiwan, as well as Kyber Capital and Infinity Ventures. In 2022, a potential Nasdaq listing was discussed but did not materialize. In August 2024, a Series B+ round was closed with participation from Far Eastern Group. The exchange supports spot trading with pairs denominated in TWD, USDT, and BTC, as well as staking services, automated trading bots, and an NFT marketplace. Fiat operations are available only to Taiwan residents (citizens and foreigners with an ARC). Regulation and Licenses MAX is registered with Taiwan's FSC under the "AML Registration Rules for Enterprises or Individuals Providing Virtual Asset Services" (AML registration). This is not an operating license but a mandatory registration for anti-money laundering purposes. No regulatory lawsuits, fines, or legal proceedings against the exchange have been identified. The exchange cooperates with the Taiwanese police and prosecutor's office - it blocks addresses from blacklists, freezes suspicious accounts, and provides data for investigations. KYC is mandatory and divided into three levels: — Level 1: email registration. — Level 2: phone number, selfie with ID (National ID or ARC for foreigners). — Level 3: Taiwanese phone number, full identity verification, and a verified local bank account (the account holder's name must match the name on the account). For corporate clients, company registration documents and a corporate bank account in Taiwan are required. Fiat gateways are available only to Taiwanese residents; non-residents cannot deposit or withdraw TWD/USD. Products and Fees Spot Market - the main trading environment, launched in 2018. Market, limit, stop-limit, and stop-market orders are available. The trading interface uses TradingView. ETH Staking under an agency model was launched on October 5, 2023; the exchange acts as an agent, participating in PoS on behalf of users. A "Yield Gain" feature is also offered to generate income on idle assets. Trading Bots - automated strategies (including DCA and grid), available in web and mobile apps. MAX Token (ERC-20) - the native token with a maximum supply of 500,000,000 MAX. Utilities: fee discounts when paying in MAX, staking with an "ageing boost" (staking power increases over time), and enhanced referral rewards. Trade mining was completed on November 27, 2019: 59,861,620.1967 MAX were distributed, and the remaining 90,138,379.8033 MAX were burned the same day. Periodic token burns from fees collected. NFT Marketplace - under the MaiCoin brand (商城), MAX is used to fund wallets. Physical Office - MaiCoin Taipei Bade Business Office for in-person consultations. USD Gateway - via a trust mechanism with Union Bank of Taiwan (UBOT): the client opens a foreign currency account at UBOT and links a virtual MAX USD account. API: REST and WebSocket, a major WebSocket API update was conducted on August 19, 2020 (v1 was decommissioned a month later). No FIX gateway is documented. Fees: maker-taker model with VIP tiers. VIP status is determined by 30-day trading volume or the amount of staked MAX. A discount is provided when fees are paid in MAX. Zero/reduced maker campaigns are held periodically. Referral rewards are paid in MAX. Specific rates are dynamic and not listed. Derivatives (futures, options), copy trading, P2P escrow, and exchange debit cards are not offered. Volumes and Liquidity As of Aug 3, 2026 , the exchange's trust rating is 7 . The exchange ranks first among Taiwanese platforms by trading volume, although absolute figures lag behind global giants. Liquidity is concentrated in TWD pairs; traders often use MAX for initial market entry before transferring funds to international platforms. There is no derivatives market on MAX, so no futures or options volumes are generated. Security and Incidents Cryptocurrency assets are primarily stored in cold wallets using AMIS multi-signature technology. AMIS Technologies (a subsidiary of MaiCoin Group, founded in 2016) acts as the custodian and holds ISO 27001 and SOC 2 Type I/II certifications (confirmed in 2023). Client fiat funds (TWD) are held in a trust account at Far Eastern International Bank, separate from the exchange's balance. USD deposits are protected by a trust structure through Union Bank of Taiwan. No hacks or fund leaks have been recorded in the exchange's history. In September 2024, an incident occurred involving mass account freezes and increased withdrawal times of 7-14 days, causing user dissatisfaction and rumors of insolvency. The MaiCoin Group explained this as enhanced measures against fraud and money laundering. No other technical failures or prolonged trading halts have been recorded. Proof-of-Reserves (regular audited reserve reports) is not published. The exchange relies on bank trust for fiat and cold storage to demonstrate solvency. Internal reserve snapshots were published in 2022, but there is no independent PoR series. Related Individuals Danny Yang (founder of MaiCoin Group) - earned a bachelor's degree in chemistry and physics from Harvard (1994-1998) and a PhD in computer science from Stanford (1998-2005). Before cryptocurrencies, he was involved in tech entrepreneurship; in 2013, he founded the Stanford Bitcoin Meetup and launched MaiCoin as Taiwan's first cryptocurrency brokerage platform. He previously founded the blockchain analytics company Blockseer (2015-2020). Under his leadership, MAX Exchange was launched in 2018. Yang is currently focused on the Metagood project and the OnChainMonkey NFT collection, while maintaining ties with MaiCoin. Legal Entity: MaiCoin Group (Modernity Financial Holdings Ltd.) - a holding company that unites the MAX exchange, the MaiCoin broker, the custodian company AMIS Technologies (founded in 2016, member of the Ethereum Alliance), subsidiary projects Qubic (blockchain and NFT), and a minority stake (25%) in MaiCapital - a Hong Kong investment fund regulated by the SFC (Type 4 and 9 licenses, founded in 2019). Potential Deep integration with the Taiwanese banking system - TWD trust at Far Eastern International Bank and USD trust at Union Bank of Taiwan - provides local legitimacy and user trust. Regulatory certainty (full FSC AML registration) reduces the risk of sudden bans. Growing cryptocurrency adoption in Taiwan could expand the client base. A partnership with Elliptic (2023) enhanced AML analytics. Discussions about a potential Nasdaq listing indicate ambitions to attract international capital. Investments from major Taiwanese corporations (Far EasTone, Pegatron) create strategic alliances. The introduction of staking and trading bots expands the product line without increasing regulatory burden. Risks [Identified by the Finkonkurs AI analytics system] Lack of Proof-of-Reserves: the exchange does not publish regular audited reports on crypto asset reserves, reducing transparency and potentially undermining trust during market stress. Geographic Concentration: all fiat gateways are available only to Taiwan residents; any tightening of currency controls or changes in the country's regulatory environment directly impacts the business. Competition: major international exchanges ( Binance , Bybit ) also have Taiwanese users; a limited product set (no derivatives, margin trading) may reduce appeal for advanced traders. 2024 Incident: account freezes and withdrawal delays caused reputational damage; a repeat of such measures amid rising fraud could trigger client outflows. Regulatory Risks: although Taiwan has not yet introduced full VASP licensing, potential tightening (e.g., requirements for reserves, insurance, segregated custody) would require additional costs.