Conflux’s CFX token price has increased by more than 40% following the news of its partnership with China Telecom and is currently trading around $0.076.
Conflux Network officially joined hands with China Telecom, China’s second largest telecom operator, to develop blockchain SIM card. The CFX token spiked shortly after the news.
China Telecom, 2nd largest wireless carrier in China 🇨🇳 (390+ million mobile subscribers), has partnered with Conflux to develop Blockchain-enabled SIM cards – BSIM! pic.twitter.com/LQxz34L432
— Conflux Network Official (@Conflux_Network) February 15, 2023
According to the announcement, the carrier of more than 391 million mobile subscribers will launch the first pilot program in Hong Kong later this year.
Recently, this layer-1 platform is gaining significant momentum. At the end of last month, Conflux has just integrated with the e-commerce social network Little Red Book, dubbed “Instagram Chinese version”. The above partnership framework aims to help 200 million users mint NFT their profile pictures on Conflux.
As usual, the price of Conflux’s CFX token immediately “set up a column” after the news. CFX is currently trading around the $0.761 mark with a 24-hour trading volume of $34.6 million.
Conflux is a layer-1 blockchain platform, designed to connect content creators, communities and markets of protocols. Conflux has received a research grant worth USD 5 million from the Shanghai government in 2021.
Ming Wu – CTO of the project said that Conflux is gradually becoming the main bridge to connect the big players of the internet industry in China, especially those that are embracing Web3.
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