Dubai — May 22, 2023 — On Monday, leading Chinese web3 protocols Particle Network and Conflux announced a strategic partnership with developer transaction platform Biconomy to bring Wallet-as-a-Service and simplified UX to onboard a new generation of blockchain users.

This comes as the Hong Kong Monetary Authority announces new regulatory oversights after selecting 16 firms from the financial, payments and technology sectors to pilot use cases in programmable payments and settlements of tokenised assets.

Particle Network provides SDK solutions such as Web3 Authentication and Wallet-as-a-Service to make Web3 seamless and secure for both users and developers, while Conflux is a regulatory-compliant, public, and permissionless Layer 1 blockchain connecting decentralised economies in a fast, secure, and scalable blockchain environment.

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A Web3 Ecosystem for a New Wave of Chinese blockchain users

Together with Biconomy’s leading infrastructure tools that have simplified UX for millions of web2 users, this partnership provides an end-to-end, seamless onboarding solution for a new generation of Chinese blockchain users.

Pengyu Wang, co-founder of Particle Network, says, “We’re leveraging each others’ strengths — our seamless and secure SDK solutions to drive onboarding, with Biconomy’s advanced Account Abstraction technology to enhance user experience, driving towards a much-improved user journey.”

Aniket Jindal, co-founder of Biconomy, notes, “This integration between the 3 leading projects creates immense value for the Chinese web3 ecosystems. As regulators and operators align, we see millions more users onboarding web3 in a transparent and sustainable manner through our gateways.”

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About Biconomy

Biconomy is a Web3 developer and transaction infrastructure platform that helps developers deliver effortless experiences to their end users.

As pioneers of Account Abstraction (ERC-4337), Biconomy accelerated the mass adoption of Web3 through simplified UX, achieved with a decentralised UX stack that gives developers powerful tools to remove UX complexities, onboard users, and scale their dApps.

Biconomy launched a powerful and hyper-flexible SDK in 2022. This SDK lets developers easily plug, stack, and customise APIs and modules that offer massive UX benefits including one-click user journeys, transaction bundling, and control over gas fees. Visit Biconomy.io for more.

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About Particle Network

Particle Network is a Multi-Party Computation (MPC)-powered Authentication and Wallet-as-a-Service Middleware designed for developers. It reduces barriers for non-crypto users by enabling them to interact with Web3 apps via familiar Web2 methods such as mobile numbers, emails, Facebook, and Google accounts.

This process automatically generates a non-custodial wallet for them. Through the use of Particle Network's middleware, the new user registration conversion rate has significantly increased from 15% to 95%.

Particle’s client portfolio includes leading Web2 companies such as Funplus, Perfect World Games, Power of Women and also notable Web3 games such as Ultiverse, Xterio, Era7, etc. The company is also backed and trusted by leading investors such as Hashkey, Animoca, LongHash Ventures, among many others. Visit Particle.network to find out more.

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About Conflux Network

Conflux is a permissionless Layer 1 blockchain connecting decentralised economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.

As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. Conflux has collaborated with global brands and regional government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald's China, and Oreo. To learn more about Conflux, visit confluxnetwork.org.

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Note to editors — For more information, press only:

Biconomy Media Relations

‍Tommy@biconomy.io

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Particle Network Media Relations

Kerf@particle.network

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Conflux Media Relations

Dora@confluxnetwork.org