Conflux Launches Offshore Yuan-Backed Stablecoin for Belt and Road Initiative
Conflux, a Shanghai-based blockchain platform, unveiled a new offshore yuan-pegged stablecoin during its Conflux 3.0 upgrade event. The 1:1 fiat-backed digital asset targets cross-border settlements for nations participating in China's Belt and Road Initiative.
The partnership with fintech firm Anchorx positions this as a strategic MOVE to expand yuan liquidity in emerging markets through blockchain infrastructure. No immediate exchange listings were announced.