#conflux Launches Yuan-Backed Stablecoin and Improves Network

The Chinese blockchain Conflux has announced plans to launch a stablecoin linked to the offshore yuan, in collaboration with AnchorX and Eastcompeace.

This initiative aims to facilitate cross-border payments, especially for Chinese companies and nations in the Belt and Road Initiative. The news boosted Conflux's token $CFX , which rose by more than 127%. Additionally, Conflux revealed its 3.0 update, which promises to handle over 15,000 transactions per second and integrate AI agent calls on-chain.

This strategic move positions Conflux as a key player in the growing adoption of stablecoins in Asia.