The global cryptocurrency landscape is witnessing a strategic shift as Binance, the world’s largest digital asset exchange, announces support for Conflux Network—recognized as China’s only compliant public blockchain. This integration marks a pivotal moment for Web3 development in Asia, reinforcing Conflux’s role as a foundational infrastructure player amid tightening regulatory environments and growing institutional interest.
With the announcement, CFX, Conflux’s native token, surged over 15% overnight, reflecting strong market confidence. The move enables users to deposit and withdraw CFX across multiple chains on Binance, including Conflux eSpace, Conflux Core Space, and BNB Smart Chain (BEP20)—expanding accessibility and liquidity for one of Asia’s most promising blockchain ecosystems.
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Conflux: Bridging Compliance and Innovation in China’s Web3 Ecosystem
Unlike many decentralized networks operating in regulatory gray areas, Conflux Network stands out as the only public, permissionless blockchain officially recognized within China. Built with compliance at its core, it offers developers and enterprises a secure, scalable platform that aligns with national digital economy strategies.
This unique positioning has enabled Conflux to collaborate with major institutions such as the Shanghai municipal government, McDonald's China, and global brands like Oreo, exploring use cases in supply chain transparency, digital collectibles, and metaverse experiences. These partnerships underscore its mission: to build a trusted, high-performance infrastructure for next-generation internet applications.
At the technical level, Conflux delivers exceptional performance:
- 3,000 transactions per second (TPS)
- Over 5,000 nodes in its network
- Block confirmation time of just 0.5 seconds
These metrics surpass first-generation blockchains like Bitcoin and second-gen platforms like Ethereum by two to three orders of magnitude, making Conflux one of the most efficient public chains globally.
Strategic Expansion into Hong Kong: Laying Groundwork for Web3 Adoption
Hong Kong’s progressive stance on virtual assets—set to allow retail trading of Bitcoin and Ethereum from June 1—has created fertile ground for blockchain innovation. Recognizing this opportunity, Conflux has been actively establishing legal entities in the region, positioning itself as a bridge between mainland compliance frameworks and international Web3 markets.
Ming Wu, co-founder of Conflux, emphasized the strategic importance of Hong Kong during a visit in December 2022, where he engaged with government agencies and tech communities on digital economy initiatives.
“Hong Kong’s open yet regulated environment allows Chinese innovators to experiment freely within clear legal boundaries,” Wu stated. “This accelerates the integration of Web3 technologies into traditional business models, unlocking new value streams.”
By expanding into Hong Kong, Conflux aims to become the foundational layer for the city’s envisioned Web3 ecosystem, supporting everything from tokenized assets to decentralized identity solutions.
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Telecom Giant Partnership: Blockchain-Powered SIM Cards Go Mainstream
One of Conflux’s most groundbreaking developments came in February with the announcement of a collaboration with China Telecom, the country’s second-largest wireless carrier serving over 390 million users. Together, they are developing the Blockchain SIM (BSIM) card, a secure hardware solution designed to bring blockchain access to everyday consumers.
The BSIM card securely stores users’ public and private keys directly on the SIM, ensuring that private keys never leave the device during transaction signing. This design significantly enhances security compared to software wallets, protecting against phishing, malware, and unauthorized access.
Key features of the BSIM include:
- On-device digital signature generation
- Encrypted storage of digital assets
- Secure key recovery mechanisms
- Seamless integration with dApps and payment systems
Pilot programs are expected to launch in major Chinese cities like Shanghai, potentially paving the way for nationwide adoption. If successful, this could mark the first large-scale deployment of blockchain technology integrated into mobile telecommunications infrastructure.
Market Momentum and Institutional Recognition
Conflux’s growing influence hasn’t gone unnoticed by global analysts. In a joint report by HSBC and KPMG titled Asia-Pacific Emerging Giants, Conflux was identified as a potential unicorn—a privately held startup valued at over $1 billion—due to its technological edge and strategic partnerships.
The recent surge in CFX price—from $0.373 to $0.4301 within 24 hours following Binance’s announcement—reflects renewed investor interest. More importantly, it signals broader market recognition of Conflux’s long-term value proposition: high performance, regulatory alignment, and real-world utility.
As governments across Asia explore central bank digital currencies (CBDCs) and digital identity frameworks, Conflux’s hybrid consensus model and compliance-ready architecture position it as a preferred platform for public-private collaboration.
Frequently Asked Questions (FAQ)
Q: Is Conflux Network legal in China?
A: Yes. Conflux is recognized as China’s only compliant public blockchain, operating under regulatory oversight while maintaining decentralization and open access.
Q: What makes Conflux different from Ethereum or Solana?
A: Conflux combines high throughput (3,000 TPS) with low latency (0.5s block time) and full regulatory compatibility—offering a unique blend of performance and compliance not found in most Western blockchains.
Q: Can I trade CFX on major exchanges?
A: Yes. Following Binance’s integration, CFX is now supported for deposits and withdrawals across multiple chains, enhancing liquidity and accessibility.
Q: How does the BSIM card improve wallet security?
A: By storing private keys inside a tamper-resistant SIM chip and never exposing them during transactions, BSIM eliminates common attack vectors like screen scraping and fake apps.
Q: Why is Hong Kong important for Conflux’s growth?
A: Hong Kong offers a regulated yet open environment for crypto innovation. Conflux’s expansion there supports cross-border asset flows and positions it as a key infrastructure provider for Asia’s Web3 future.
Q: Does Conflux support smart contracts?
A: Yes. Through Conflux eSpace, the network is fully EVM-compatible, allowing developers to deploy Ethereum-based dApps with minimal changes.
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Final Thoughts: A New Era for Compliant Web3 Infrastructure
As global regulators intensify scrutiny on decentralized networks, Conflux demonstrates that innovation and compliance are not mutually exclusive. Backed by Binance’s ecosystem support, partnered with telecom giants, and expanding into forward-thinking markets like Hong Kong, Conflux is building a sustainable model for blockchain adoption in highly regulated environments.
Its journey reflects a broader trend: the rise of compliance-first blockchains that prioritize security, scalability, and institutional trust without sacrificing decentralization. For investors, developers, and policymakers alike, Conflux offers a compelling blueprint for how public blockchains can thrive in the real world.
With increasing adoption through initiatives like BSIM cards and government collaborations, Conflux isn't just surviving in China's strict tech landscape—it's leading it.