Conflux (CFX) Soars 57% on Offshore Yuan Stablecoin Plans
Conflux Network, a Chinese blockchain platform, has sent its token skyrocketing after announcing a partnership to launch an offshore yuan-backed stablecoin.
CFX jumped 57% to $0.22 following the news, as traders bet on China’s growing embrace of blockchain-based financial solutions.
The stablecoin, developed with AnchorX and Eastcompeace Technology, will target Belt and Road Initiative (BRI) economies—a key part of China’s global trade expansion. The move could streamline yuan-denominated transactions across 140+ BRI nations.
Conflux also teased its Conflux 3.0 upgrade, slated for August, which aims to handle 15,000 TPS for cross-border payments and asset tokenization. The dual announcements signal China’s cautious but steady push into blockchain-powered finance.
