An electronic device is provided. The electronic device includes at least one processor that is configured to execute a first application in an REE, to execute a second application in a TEE, and to execute an agent that performs data transmission between the first application and the second application, a communication circuit configured to communicate with a server, and a secure memory area that is accessible by the TEE. The at least one processor is configured to obtain a random value from the server, to transmit a response message including the random value to the server through the communication circuit, to receive encrypted SIM data from the server, to obtain a SIM profile from the encrypted SIM data using a private key corresponding to the public key, and to store the obtained SIM profile in the secure memory area.