Conflux Unveils Yuan-Backed Stablecoin Plan and Network Upgrade

Conflux Network has announced plans to launch an offshore yuan-backed stablecoin in collaboration with fintech firm AnchorX and security provider Eastcompeace. The revelation came during a three-day conference referenced in a Shanghai municipal government report, though operational details remain undisclosed.

The project follows AnchorX's recent in-principle approval from Kazakhstan's Astana Financial Services Authority for its AxCNH stablecoin. Conflux's partnership with crypto wallet provider TokenPocket aims to facilitate regional pilots across Southeast and Central Asia, accelerating adoption pathways.

Simultaneously, Conflux revealed its 3.0 network upgrade boasting 15,000 TPS capacity and native support for on-chain AI agent calls. These developments signal China's continued blockchain innovation despite regulatory caution toward private stablecoins.