LayerZero’s BSIM to Boost Interoperability Across Asia

LayerZero, CoinFlux, and China Telecom partner to enhance blockchain interoperability within Asia.

Two man skydiving into Asia from space leaving a tail of fire behind.
Created by Gabor Kovacs from DailyCoin
  • LayerZero Labs joins forces with CoinFlux for a new project development.
  • The firms will develop blockchain-based SIM cards in collaboration with a Chinese telecommunication company.
  • The cards will enhance interoperability on blockchains and easy asset storage.

Asia’s journey towards becoming a leading cryptocurrency hub has been marked with remarkable consistency, drawing the attention of several cryptocurrency firms and exchanges to the region. 

Joining the ranks is LayerZero, a crypto messaging protocol, with a newly formed partnership with Singapore-based Layer-1 blockchain, CoinFlux.

The BSIM Project

LayerZero has unveiled a new blockchain-based SIM card project, BSIM, in collaboration with CoinFlux and the second-largest Chinese wireless communication company, China Telecom. 

Initially introduced in February 2023, BSIM cards will enhance interoperability by allowing users to easily store assets and messages on mobile devices. The cards will feature digital signatures, encrypted storage, and key retrievals, ensuring the security of private keys and overall protection.

Additionally, users can use the BSIM cards to transfer assets between compatible chains and display assets across a variety of applications when needed.

The first launch of BSIM is scheduled to roll out in Hong Kong, targeting China Telecom’s extensive user base of over 300 million users. Following the launch, BSIM will fully expand into key mainland China locations, including Shanghai. 

Discover the latest in Binance’s legal troubles as new FTX collapse accusations hit:
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Read more on regulations in the growing Asian cryptocurrency industry:
Taiwan Regulators to Set New Measures for Virtual Assets Providers

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Grace Abidemi

Grace Abidemi, a cryptocurrency reporter at DailyCoin, covers industry developments and trends. She previously worked as a freelance writer. With a Bachelor's degree in German Language and certifications in marketing and storytelling, Grace creates engaging content. When not working, she's in Nigeria, mastering cooking and canvas painting, and enjoys learning about different cultures and languages.