Launch of a Stablecoin by Conflux to Enhance Payment Transactions within the Belt and Road Initiative
Chinese Blockchain Firm Conflux Launches Offshore Yuan-Pegged Stablecoin for Belt and Road Initiative
In a move aimed at enhancing global commerce, Chinese blockchain firm Conflux has launched a new stablecoin pegged to the offshore Chinese yuan (CNH). Named AxCNH, this digital asset is designed to facilitate cross-border payments and trade among countries involved in China’s Belt and Road Initiative (BRI).
The launch of AxCNH is part of Conflux’s strategic effort to provide scalable, compliant blockchain infrastructure to support international commerce and real-world asset settlements within the BRI network. The stablecoin aims to serve offshore Chinese entities and BRI countries by reducing costs, improving liquidity, and streamlining cross-border payments in line with the goals of China’s infrastructure and trade expansion effort under the Belt and Road Initiative.
The launch of AxCNH coincides with the rollout of Conflux 3.0 network upgrade (Tree Graph), which features enhanced scalability up to 15,000 transactions per second and support for AI agent calls, facilitating the integration of real-world asset settlements and fintech innovations.
Conflux has partnered with fintech firm AnchorX and wallet provider TokenPocket to promote adoption of the AxCNH stablecoin. Another partner, Eastcompeace Technology, focuses on cybersecurity to ensure operational integrity.
This initiative positions Conflux as a provider of compliant, secure digital infrastructure aligned with China’s geopolitical and economic ambitions to expand the yuan’s global use and digital payment corridors, particularly in regions actively involved in the Belt and Road projects.
The project aligns with evolving regulatory frameworks in the Greater China region, including Hong Kong’s new stablecoin licensing regime starting August 2025, aimed at fostering regulated real-world use cases. However, it remains unclear whether the stablecoin tied to Conflux is the same project or an entirely separate initiative.
Meanwhile, there has been a surge in stablecoin license applications in Hong Kong, with around 40 companies seeking regulatory approval, including JD.com, Ant Group, and Circle. Hong Kong's new digital asset policy known as LEAP introduces a licensing regime for stablecoin issuers beginning August 1, with the regulatory responsibility resting with the Securities and Futures Commission.
TokenPocket, a cryptocurrency wallet provider, has announced a partnership with Conflux and AnchorX to promote the offshore yuan-backed stablecoin to its user base, with plans to initiate pilot programs in Central Asia and Southeast Asia.
As Conflux continues to advance both technological innovation and international utility aligned with national economic strategies, it is poised to play a significant role in shaping the future of cross-border payments and digital asset adoption within the Belt and Road Initiative.
[1] Conflux Blog: Conflux Network Launches Offshore Yuan Stablecoin for Cross-Border Payments
[2] CoinDesk: Conflux Launches Offshore Yuan-Pegged Stablecoin for Belt and Road Initiative
[3] Cointelegraph: Conflux Launches Offshore Yuan-Backed Stablecoin for Cross-Border Payments
[4] Conflux: Conflux 3.0 Network Upgrade Announcement
[5] CoinDesk: Conflux Partners With Fintech Firms for Offshore Yuan-Backed Stablecoin
- This strategic move by Conflux, a Chinese blockchain firm, indicates their efforts to combine finance and technology, as they launch the offshore yuan-pegged stablecoin AxCNH, aimed at facilitating cross-border business between BRI countries.
- As a part of Conflux's objective to support international commerce with compliant blockchain infrastructure, the launch of AxCNH also signals their initiative to influence lifestyle changes by streamlining cross-border payments and improving liquidity, thus aligning with China's Belt and Road Initiative goals.
