Conflux Network to Launch Offshore Yuan Stablecoin for BRI Payments

Highlights:

• Conflux is set to launch an offshore yuan stablecoin for BRI payment systems.
• China backs yuan stablecoin development as officials push for alternatives to dollar-dominated digital payments.
• Conflux will launch an upgrade that aims to support faster transactions.

Conflux Network, a public layer-1 blockchain, has partnered with AnchorX and Eastcompeace Technology to introduce a stablecoin backed by the offshore yuan. The partnership aims to support international payments in countries involved in the Belt and Road Initiative. The countries in the initiative include Indonesia, Malaysia, Singapore, and Kazakhstan.

We are proud to forge a stablecoin alliance with @TokenPocket_TP as our strategic partner.

Together, we build an unshakeable foundation for the future of digital global payment. https://t.co/bt2l7CmrKC

— Conflux Network Official (@Conflux_Network) July 21, 2025

The stablecoin will be used for cross-border payments but will remain aligned with the financial policies of China. AnchorX will lead the development of the stablecoin, named AxCNH, while Conflux will offer blockchain infrastructure. Eastcompeace will deal with security systems to facilitate the technical rollout. The partners will also work on facilitating speedier settlement of commercial transactions in major BRI economies.

The companies plan to use the stablecoin to connect businesses in Asia and beyond. This move supports China’s broader plan to expand its financial presence internationally. Conflux also intends to show how blockchain systems can solve real-world payment challenges. The partnership aims to create a digital payment path that supports trade integration by targeting Belt and Road countries.

Yuan Stablecoin Plans Gain Momentum Amid Cross-Border Push

China’s growing interest in stablecoins has received attention from top financial leaders. According to Pan Gongsheng, Governor of the People Bank of China, the global payment system is being transformed by central bank digital currencies and stablecoins. His words indicate that China has acknowledged the changing financial world and is in search of alternatives to the dollar-based systems.

At a recent seminar, former Deputy Finance Minister Zhu Guangyao described dollar stablecoins as tools that help expand U.S. monetary control. He called them the third phase of the Bretton Woods system and explained how they give the U.S. added influence in global finance.

Zhu recommended that Hong Kong would be a good place to carry out trials of stablecoins. He claimed the location of the city outside the financial system of the mainland provides greater space to experiment. He further noted that China must prevent relaxing its capital controls when implementing the innovation of stablecoins.

Hong Kong will introduce a system of licensing issuers of stablecoins starting August 1. This might pave the way for companies to introduce yuan-pegged digital currencies under clear rules. Companies like JD.com and Ant Group have already approached the central bank to seek approval for offshore yuan stablecoins. Their involvement could add more support and scale to China’s digital currency expansion.

Conflux 3.0 Nears Launch as Market Reacts

In addition to the stablecoin plans, Conflux will launch its network upgrade, Conflux 3.0, in August. The latest version will handle a maximum of 15,000 transactions in a second. This upgrade will assist the network to manage real-life asset transfers and high volumes of payments. With this step, Conflux hopes to position itself as a solution for international blockchain transactions.

Investors responded quickly to the announcement. Conflux’s token, CFX, is trading at 0.2243, a 50.45%. The market cap stands at $1.14 billion. Meanwhile, the trading volume of CFX is up 374.52% to $1.74 billion. The coin has gained 117% on the weekly chart.