Telx technologies unveiled the first ever crypto sim card that will enable hassle-free transactions via SMS – without any smartphone or internet.
Per the report, users will be allowed to make transactions through their first dedicated crypto phone number. The Telx phone number will assume the role of the digital currency address. This will in turn save the customers’ time required to copy and paste or type the tedious wallet addresses. Messages can be sent to the opposite party whether they are Telx users or not.
The network spans over 180 countries. Users will be given the benefit of unlimited SMS messaging and transactions of currencies such as Bitcoin, Litecoin, Dash, Zcash, and Bitcoin Cash.
As part of security measures, Telx prohibits sim swapping and phone number porting. Moreover, transactions can be exacted only with the proper pin number and only transactions sent from the user’s unique sim card will be recognized. Backup keys will be provided by the company in case of theft or losses.
Founder and CEO of Telx, Mark Penovich stated that the venture is a step forward towards making digital currency easily accessible, irrespective of technical and non-technical limitations, highlighting the synergy between payments and messaging. He stated:
“Our goal at Telx is to natively embed peer to peer transactions into the world’s most widely used communication method, SMS messaging.”
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