Conflux Launches Yuan-Pegged Stablecoin for Belt and Road Payments

Conflux, a blockchain platform, has announced the launch of an offshore yuan-pegged stablecoin and its upcoming 3.0 network upgrade, focusing on cross-border payments in countries covered by the Belt and Road Initiative. This move aligns with China's aspirations to join the global financial system and positions Conflux as a provider of scalable blockchain services.

The 3.0 version of Conflux, known as Tree Graph, boasts a transaction processing rate of 15,000 transactions per second (TPS). This new network is designed to support AI agent calls and simplify the settlement of real-world assets. These strategic upgrades aim to increase the platform's use as a cross-border monetary infrastructure, particularly in regions where Belt and Road projects overlap with the growing demand for crypto payments.

Conflux has partnered with fintech firm AnchorX and mainstream wallet provider TokenPocket to promote the use of the yuan-backed stablecoin, named AxCNH. This stablecoin has a 1:1 peg with the offshore Chinese yuan and is designed to support compliant, safe, and innovative fintech solutions. The stablecoin trial programs will be hosted in Central and Southeast Asia, along with other selected international sites. The partnership aims to enhance cross-border trade and introduce real-world asset settlement in the blockchain world, providing new payment corridors to digital asset businesses in the most active Belt and Road markets.

TokenPocket, founded in 2018, has over 30 million customers worldwide and is currently the largest decentralized stablecoin wallet platform with over 5 million monthly active users. The company's solutions include wallet products, on-chain smart contracts, and blockchain investments, further defining its central position in such collaborative pilots.

With the release of Tree Graph 3.0, Conflux has significantly outperformed its rivals in terms of performance. The network combines advanced security and real-life asset settlement capabilities with high throughput and AI support. These improvements are aimed at high-value, international trade use cases that are core to the Belt and Road strategy.

The launch of the stablecoin coincides with the imminent implementation of the stablecoin licensing regime in Hong Kong. The rapid pace of digital payments related to China is evident, with industry heavyweights like Ant Group and JD.com seeking licenses to launch stablecoins in Hong Kong. Conflux, having supported more than 15,000 transactions every second and developed partnerships within its ecosystem, aims to become a leader in blockchain-based settlement solutions in large-scale infrastructure, trade finance, and digital asset integration.

As regulatory models change throughout the region, Conflux's strategy focuses on technical scalability and payment adoption by the market. The stablecoin and upgrade projects are set to launch at a time when there is a projected demand for yuan-backed digital assets across Asia and the rest of the world. The 3.0 mainnet launch is scheduled for August.