The Chinese Blockchain Conflux announced the third version of its public network and introduced a new stablecoin supported by the far -off Yuan coast.
According to In a report from the Shanghai Municipal Government on Sunday, Conflux announced developments during the three -day conference held over the weekend. In the event, Conflux opened a collaboration with the Eastcompeace’s finisch firm Anchorx and Information Technology Security Firm to support the launch of an offshore Yuan supported by Stablecoin.
The news is following the anchorx acceptance The in-principle approval for the Yuan-Pegged Stablecoin Axcnh of the Kazakhstan regulator, the Astana Financial Services Authority, in late February. It is unclear whether the Stablecoin of Conflux is AXCNH or a separate project, and the involved companies do not respond to Cointelegraph’s inquiries by publishing.
Conflux also cooperated with the crypto wallet tokenpocket to promote stablecoin to its users. To an x announcementThe purse team wrote that the firm will launch pilot projects in Central Asia, Southeast Asia and other major regions in collaboration with Conflux and Anchorx.
The team also announced the introduction of Conflux 3.0, which the company said that could process more than 15,000 transactions per second and natively support calls to the artificial onchain intelligence agent.
Cases of use of belt and roads are targeted
The new Stablecoin aims to serve offshore Chinese creatures and countries involved in China’s Belt and Road initiative. The project will also explore real-world asset applications, according to Conflux.
The Belt and Road initiative is a global infrastructure and economic approach launched by China in 2013 as part of efforts to increase international influence on the country’s international. The project aims to connect Asia, Africa and Europe through land and maritime trade routes, which promotes global trade and investment, which includes the formation of roads, metals, ports and digital infrastructure.
The Chinese breed has warmed up
Conflux’s Stablecoin is the latest entry into the Chinese Stablecoin breed. As reported by the Chinese version of Cointelegraph earlier this month, Hong Kong recently attracted many stablecoin license applications.
Companies behind applications include giants like jd.com, Ant Group and circle. The report follows the Hong Kong government Introducing a Crypto regulation framework known as “jump. “
The new firework includes a licensing regime for those who provided Stablecoin since August 1, which will “facilitate the development of real-world use cases.” The release of licenses will be guarded by the security and futures commission of Hong Kong.
Mainland China is known for having one of the most restrictive approaches to cryptocurrencies. However, recent reports indicate that the country will re -consider its stance on Stablecoins. Earlier this month, the Shanghai State-owned Assets Supervision and Administration Commission (SASAC) held a meeting to discuss strategic responses to Stablecoins.
After the meeting, the director of regulator Qing, called for “greater sensitivity to emerging technologies and improved research on digital currencies.”
Magazine: China’s US Stablecoins threatened, G7 urged Lazarus Group: Asia Express
