Chinese L1 Blockchain Conflux Teases New Upgrade, Eyes Offshore
0Adoption
China
Stablecoin
Conflux revealed its collaboration with fintech company AnchorX and Shenzhen-listed Eastcompeace Technology to develop a stablecoin tied to the offshore yuan.
Crypto Journalist
Amin Ayan
Crypto Journalist
Amin Ayan
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Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...
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Last updated:
July 21, 2025
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Conflux Network, a Chinese Layer 1 blockchain, is preparing to roll out a major network upgrade while stepping into the stablecoin arena with a yuan-pegged digital currency designed for international use.
Key Takeaways:
Conflux Network is launching a yuan-pegged stablecoin to support cross-border BRI payments.
The upcoming Conflux 3.0 upgrade aims to boost network speed to 15,000 TPS.
CFX token surged 57% after the announcement.
During a weekend conference, Conflux revealed its collaboration with fintech company AnchorX and Shenzhen-listed Eastcompeace Technology to develop a stablecoin tied to the offshore yuan.
The announcement, posted on the Shanghai government’s website, signals a growing effort to extend China’s financial footprint across Belt and Road Initiative (BRI) countries.
These...
https://cryptonews.com/news/chinese-l1-blockchain-conflux-teases-new-upgrade-eyes-offshore-yuan-stablecoin/
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