BSN to Expand into Turkey and Uzbekistan

The company behind the state-backed Chinese Blockchain Service Network (BSN), Red Date Technology, will launch the network portal operators in Turkey and Uzbekistan at the end of December. According to Cointelegraph.

The company signed the relevant agreement with the Centre for Coordination of Turkish and Chinese Business (TUCEM).

Developers of blockchain applications in Turkey and Uzbekistan will be able to use BSN, which links networks such as Ethereum, Algorand, Polkadot, Tezos, Quorum, Corda and others.

The initiative aims to address the core issues involved in development, ensuring blockchain interoperability, and reducing costs.

According to Red Date CEO He Yifan, the platform may later expand to the United States, Europe and Australia. Foreign portals are operated by local players, he added.

In an interview the executive said he would refuse to participate in projects related to CBDC and wind down plans to launch his own stablecoin.

“We are implementing this initiative in a different structure, not related to BSN. Here we are aiming to expand our presence in different countries.”, — he explained.

In January, BSN announced the addition of support for the digital yuan in 2021.

Earlier Red Date announced plans to launch the network portal operator in South Korea in November.

In June the firm raised $30 million in a funding round led by the venture fund of oil giant Saudi Aramco and the Hong Kong-based Kenetic.

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