BitBank unveils BitPay and BitSIM, says contract admin rights have been relinquished

BitBank said it has launched two products, the BitPay payment card and the BitSIM communications card, and is positioning them as dual entry points into a broader Web3 digital lifestyle ecosystem. According to the company, the setup combines digital identity, global payments, mobile communications and blockchain-based finance, with the stated goal of bringing digital assets into real consumption scenarios. BitBank Foundation also said it is advancing physical deployment of Bitcoin mining machines in the Asia-Pacific region. It described the asset layer as centered on BTC physical hash power, a treasury system and the BTCX ecosystem token, which it said will connect with DeFi staking, global communications and payment applications to form what it called an "asset-service-consumption" closed loop. On governance, the foundation disclosed that BitBank has completed the relinquishment of all related smart contract management permissions. It said the move is intended to reduce human intervention, increase the transparency of on-chain rules and support DAO-based community governance as the ecosystem develops over the long term.