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Conflux, a blockchain firm originating from China, has recently rolled out a fresh stablecoin. This digital currency is secured by offshore yuan holdings. In addition, they’ve launched an enhanced public blockchain network. This move is positioning Conflux as a major player in China’s evolving digital finance sector. The official unveiling took place at a summit in Shanghai, a three-day event spanning from July 18th to 20th.
In Brief
- Conflux introduces a stablecoin backed by offshore yuan to facilitate international transactions and support businesses involved in the Belt and Road Initiative.
- The Tree-Graph 3.0 upgrade significantly improves transaction processing speed, reaching 15,000 TPS, and integrates on-chain AI for enhanced automation.
- Collaborations with AnchorX, Eastcompeace, and TokenPocket are designed to promote global adoption of the new stablecoin and ensure adherence to regulatory standards.
Enhanced Network to Foster Web3 Adoption
During the event, Conflux presented Tree-Graph 3.0, the latest iteration of its public chain. This represents a significant push to support the worldwide integration of blockchain technology. According to a statement by the Shanghai local government, the company’s aim is to bolster its presence in global financial markets through this upgrade. It delivers an infrastructure tailored for demanding digital applications.
What are the primary improvements implemented in Conflux Tree-Graph Public Chain 3.0?
- A revamped storage structure and a more efficient execution module are implemented to increase overall performance.
- Transaction processing has been dramatically enhanced, allowing for up to 15,000 transactions every second, crucial for high-volume applications.
- Built-in compatibility for on-chain AI-driven agents enables streamlined automation and enhanced blockchain decision-making.
- The platform enables international payments and bulk settlements, catering to real-world asset transactions.
- The official launch of Conflux Tree-Graph Public Chain 3.0 is slated for August 2025, a significant technical accomplishment.
Dr. Yang Guang, CTO of the Shanghai Tree-Graph Blockchain Research Institute, stated that the update reduces confirmation times from 30 to 26 seconds. Additionally, it provides complete Ethereum Virtual Machine compatibility, improving its ability to work with other systems.
Strategic Alliances to Drive Stablecoin Implementation
In tandem with the network enhancement, Conflux also announced the introduction of a stablecoin pegged to the offshore yuan. This development is the result of a collaboration with the financial technology firm AnchorX, along with Eastcompeace, a cybersecurity solutions provider. The stablecoin will target international usage, serving Chinese companies operating overseas, especially within the regions involved in the Belt and Road Initiative.
To accelerate adoption, Conflux has partnered with TokenPocket. This platform, boasting a user base of over 30 million worldwide, including more than 5 million active users each month, is anticipated to contribute to Conflux’s expanding global reach.
TokenPocket announced on X that they plan to support the implementation of the stablecoin. They aim to refine international payment systems and broaden the use of real-world asset (RWA) applications within specified international markets.
Conflux has also forged strategic alliances with AnchorX and Eastcompeace to promote initial overseas programs in countries along the Belt and Road. These initiatives will concentrate on offshore RMB stablecoin issuance, cross-border settlements, and RWA applications.
The coalition of Conflux, AnchorX, and TokenPocket intends to utilize these preliminary programs to construct a legally sound and secure framework for blockchain-based financial activities.
As part of the collaboration, TokenPocket_TP, Conflux_Network, and AnchorX_Ltd are planning initial projects in Central Asia, Southeast Asia, and other significant regions. Together, the three collaborators will build a compliant, secure, and modern fintech framework to reinforce the role of the Conflux system as critical infrastructure for international trade.
TokenPocket on X
Stablecoin Introduction in Harmony with Regional Regulatory Efforts
The introduction of the stablecoin backed by offshore yuan occurs alongside a broader regional movement to formally regulate stablecoin operations. In Hong Kong, interest in such financial products is growing, with about 40 companies having submitted license requests to issue stablecoins. This aligns with the city’s strategy to establish formal regulations for digital currency activities.
The Hong Kong government is developing a regulatory structure known as LEAP. The Securities and Futures Commission will be responsible for overseeing the stablecoin sector under this framework. This framework is slated to take effect on August 1, 2025, marking the start of regulated issuance of stablecoins within the special administrative region.
Considering these events, Conflux’s launch of its stablecoin indicates a shift in digital assets. It aims to connect blockchain technology with tangible assets. This initiative intends to stimulate international trade and make digital finance more accessible and practical for everyday use.
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Ifeoluwa specializes in Web3 writing and marketing, with over 5 years of experience creating insightful and strategic content. Beyond this, he trades crypto and is skilled at conducting technical, fundamental, and on-chain analyses.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before making any investment decisions.