TL;DR
- Conflux teams up with AnchorX and Eastcompeace to roll out AxCNH, an offshore-yuan stablecoin aimed at powering Belt and Road cross-border settlements.
- The upcoming Conflux 3.0 upgrade, launching in August, will boost throughput to 15,000 TPS and add modules for seamless integration with sovereign digital currencies.
- CFX surged over 40%, driven by a $1.5 billion trading spike, as strategic partnerships with regulators and major tech firms fuel market confidence.
Conflux Network electrified markets this weekend with twin announcements: the launch of an offshore-yuan stablecoin and a blockbuster protocol upgrade. Unveiled at a Shanghai event, these initiatives ignited a buying frenzy that saw CFX surge over 40% in rapid-fire trading, cementing the network’s reputation as China’s regulatory-compliant Layer-1 blockchain powerhouse.
Offshore Yuan Stablecoin Aims at BRI Payments
In partnership with fintech firm AnchorX and Shenzhen-listed Eastcompeace Technology, Conflux will issue AxCNH, a 1:1 token pegged to the offshore yuan. Designed to streamline cross-border transactions across Belt and Road Initiative corridors, AxCNH promises to weave Chinese currency rails into the network’s decentralized fabric.
By targeting markets from Malaysia to Kazakhstan, the stablecoin rollout seeks to carve out a niche for yuan-based digital settlements beyond China’s borders.
Conflux 3.0 Upgrade Slated for August
Conflux didn’t stop at stablecoins. The network teased Conflux 3.0, a protocol overhaul set for launch next month. With a targeted throughput of 15,000 transactions per second, it’s engineered for high-volume cross-border payments and real-world asset tokenization.
Enhanced modules will enable seamless interaction with state-backed digital currencies, positioning Conflux as a bridge between sovereign projects and open DeFi ecosystems.
CFX Token Surges Amid Speculative Hype
The market reaction was immediate. CFX spiked from $0.15 to above $0.22 at its peak, a more than 50% jump that reclaimed its spot in the top 120 tokens by market capitalization. Trading volume exploded past $1.5 billion in 24 hours, driven largely by Asia-based traders flocking to capture gains.
This rally underscores growing confidence in Conflux’s vision, and in China-aligned narratives that once powered earlier rallies around blockchain-enabled SIM cards and metaverse pilots.
Strategic Partnerships Fuel Broader Ambitions
Beyond AnchorX and Eastcompeace, Conflux has courted state media and key regulators, aligning its roadmap with central bank commentary on stablecoins as “reshaping global payments.” With Hong Kong’s stablecoin licensing regime on the horizon, major tech firms like JD.com and Ant Group are lobbying for offshore-yuan token frameworks, an endorsement that could unlock new corridors for AxCNH.
