Jinyong Investment and AnchorX are strategically collaborating to develop cross-border payment solutions and the application of stablecoins in digital asset transactions.
This collaboration focuses on harnessing the potential of the cryptocurrency market, promoting the connection between traditional finance and Web3, while supporting the internationalization of the Renminbi through the AxCNH stablecoin.
MAIN CONTENT
Jinyong Investment signs a cooperation memorandum with AnchorX to develop blockchain technology and cross-border payments.
AnchorX issues the AxCNH stablecoin linked to the offshore Renminbi, reducing international payment costs.
In what area are Jinyong Investment and AnchorX collaborating?
Jinyong Investment has signed a memorandum of understanding with AnchorX to collaborate on cross-border payments, stablecoin applications, digital asset trading, and blockchain technology investment. According to the CEO of Jinyong Investment, the goal is to leverage the momentum of the cryptocurrency market to drive innovation in traditional finance.
"Strategic collaboration with AnchorX will help us expand opportunities in the digital asset sector and enhance international cooperation."
(Mr. Zhang Wei, CEO of Jinyong Investment, 2024)
AnchorX is the issuer of the AxCNH stablecoin, pegged to the Renminbi in the offshore market, focusing on minimizing international transaction costs and supporting more efficient cross-border payments.
What role does the AnchorX AxCNH stablecoin play in international payments?
The AxCNH stablecoin is issued by AnchorX to link its value with the offshore Renminbi, creating a fast and low-cost payment method for cross-border transactions.
Using AxCNH helps minimize exchange rate volatility risks and enhances liquidity in international transactions, strongly supporting businesses and financial organizations conducting transactions with China and Southeast Asian markets.
"AxCNH is an important step in promoting the internationalization of the Renminbi through the application of stable cryptocurrency."
(Mr. Li Ming, Cryptocurrency Expert, 2024)
How does the collaboration between Jinyong Investment and AnchorX affect the finance and Web3 sectors?
The combination of a traditional financial company listed in Hong Kong and a leading cryptocurrency solution provider reflects the trend of integration between these two worlds. According to the report, this will help enhance digital transformation capabilities and expand the Web3 ecosystem in the Asian region.
Jinyong Investment stated that both parties have not yet signed an official legally binding agreement, and all developments will be clearly announced to ensure transparency and legality during the collaboration process.
What stage is the current collaboration process between the two parties at?
Although they have signed a strategic cooperation memorandum, Jinyong Investment and AnchorX have not yet completed the signing of the official legal contract. Both parties are committed to announcing detailed information in phases, ensuring a transparent process and compliance with local and international legal regulations.
Real-world examples of the impact of stablecoins in cross-border payments
Many countries and financial organizations have adopted stablecoins to reduce costs and shorten international payment times. For example, in the 2023 report, the International Monetary Fund (IMF) noted that stablecoins help reduce transaction fees by 30–50% and process transactions more quickly compared to traditional systems.
Comparison table of the impact of the AxCNH stablecoin with other stablecoins
Criteria AxCNH (AnchorX) USDT (Tether) USDC (Circle) Pegged Currency Offshore Renminbi US Dollar US Dollar Main Purpose Cross-border payments, supporting the internationalization of the Renminbi Payments, global value storage Payments, safe and transparent value storage International Transaction Fees Low, optimized for Asia Low Low Acceptance Currently expanding in China and Southeast Asia Globally widespread Globally widespread
Frequently Asked Questions
What is the goal of the collaboration between Jinyong Investment and AnchorX? They aim to develop an efficient cross-border payment model and expand the application of stablecoins in the cryptocurrency market. What are the notable features of the AxCNH stablecoin? AxCNH is pegged to the offshore Renminbi, helping to reduce international transaction fees and promote the internationalization of the Renminbi. How does this collaboration impact the cryptocurrency market? It helps connect traditional finance with Web3, expanding the scale and growth potential of cryptocurrency in Asia. Is there an official legal contract in place yet? Although there is a cooperation document, the two parties have not signed a legally binding official contract. What are the benefits of stablecoins in cross-border payments? Reduce costs, increase transaction speed, and reduce exchange rate risks compared to traditional methods.
Source: https://tintucbitcoin.com/axcnh-jinyong-va-anchorx-hop-tac-stablecoin/
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