At a recent Conflux 3.0 network upgrade presentation in Shanghai, the blockchain network Conflux, originating from China, revealed its plans for a novel stablecoin. This digital asset is designed to be backed by the offshore Chinese yuan at a consistent 1:1 ratio. The primary objective of this stablecoin is to streamline international transaction processes, with a specific focus on supporting nations participating in China’s Belt and Road Initiative. Conflux is collaborating with the financial technology company Anchorx to bring this project to fruition.
