Conflux partners with WorldMobile as WMT token bridges outside of Cardano, CFX up 3%

cyptouser10 months agoCryptocurrencies News210

Conflux partners with WorldMobile as WMT token bridges outside of Cardano, CFX up 3%

A new partnership between Conflux Network (CFX), China’s first regulatory-compliant public blockchain, and World Mobile, a global mobile network based on blockchain, aims to expand blockchain-based mobile access.

The collaboration follows the successful launch of Conflux’s BSIM, which saw its CFX token surge over 100%. It focuses initially on four key strategic areas: Public bridging, tech integration, Asian and African market expansion, and blockchain-based SIM card development, according to documents seen by CryptoSlate,

Partnership goals and focus.

Public bridging will involve World Mobile Token (WMT) transitioning from the Cardano blockchain to the Conflux blockchain ecosystem, marking the first bridge for the mobile network’s native token outside the Cardano ecosystem.

The focus on tech integrations will see Conflux and World Mobile working together to integrate the Conflux network into World Mobile’s sidechain, AyA, thus bringing EarthNode capabilities and financial settlement to the Conflux network.

Further, the partnership will look to the Asian and African markets, leveraging their strengths to increase connectivity, drive user acquisition, and further market penetration. Conflux’s CFX ranks among Nigeria’s top three most popular cryptocurrencies, a significant development since Nigeria accounts for nearly 67% of crypto interest in Africa.

The final prong of the strategy regards blockchain-based SIM card development, where the partners will investigate how World Mobile can optimally utilize Conflux’s blockchain-based SIM card to increase digital connectivity access worldwide.

YuanJie Zhang, Co-Founder of Conflux, emphasized the importance of global partnerships in pushing the boundaries of Web3 adoption. “Conflux Network takes its mission to push the frontier of Web3 adoption at a low cost, with fast speed and decentralized security, very seriously,” Zhang said.

“World Mobile is the next significant partner Conflux brings after China Telecom. Together, affordable and applicable blockchain technology is bridged beyond Asia to the rest of the world.”

Zachary Vann, Head of Token, World Mobile Token, echoed Zhang’s sentiments, expressing excitement about the partnership, “This partnership will accelerate our market expansion in Asia and provide connectivity globally.”

Conflux Network’s unique position as the only regulatory-compliant public blockchain in China offers a potential advantage for projects looking to expand into Asia. Likewise, World Mobile’s blockchain-based model allows for a sharing economy that taps into the global telecom market’s potential, empowering individuals and businesses to bring their communities online while earning revenue.

This partnership, combining forces of two significant blockchain giants, suggests a robust forward momentum for blockchain integration in the mobile and telecommunications industry in Asian and African markets.

Before the news broke, Coinflux was up 3% on the day. Following a surge in price at the start of the year, it has steadily declined over the past few months.

The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Women hold just 6% of crypto CEO roles highlighting gap in leadership

A new report reveals women are vastly underrepresented in leadership positions across the...

Binance Charity, CZ defend $3 million crypto donation amid critique after Morocco earthquake

The controversial donation of $3 million in Binance Coin (BNB) by Binance Charity to victims of the...

Kenya clamps down on Worldcoin over national security and tax evasion concerns

Kenya’s National Computer Cybercrimes Coordination Committee (NC4) warned that Worldcoin activities...

Nigerian authorities call on government to ban Binance amid Naira crisis

The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Nigerian government...

Nigeria national agency to authenticate government certificates using blockchain

Nigeria national agency to authenticate government certificates using blockchain

The National Information Technology Development Agency (NITDA) of Nigeria is to use blockchain techn...