Conflux (CFX), a Chinese public blockchain, is set to launch an offshore Yuan (CNH)-pegged stablecoin. This initiative aims to streamline payments within the Belt and Road Initiative, facilitating cross-border transactions. The move follows Conflux's recent "Conflux 3.0" network upgrade in August, designed to enhance cross-border payment capabilities and enable efficient settlement of real-world assets. This upgrade lays the foundation for the stablecoin's practical application. According to CoinMarketCap, Conflux's native token, CFX, is currently trading at $0.2143, reflecting a 47.1% increase. However, investors should exercise caution due to the inherent volatility of cryptocurrency markets. The CFX price surge occurred prior to this announcement, so market conditions may change. The launch of a Yuan-pegged stablecoin on the Conflux network could significantly impact global trade and finance, particularly within the Belt and Road Initiative, offering a new digital payment rail. ```
