- 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.
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