Stablecoin News: CFX Surges 57% on Offshore Yuan Stablecoin and Conflux 3.0 Upgrade Plans

2025-10-20 16:18

Stablecoin News: Conflux (CFX) rallied 57% to $0.22 following announcements about offshore yuan-pegged stablecoin development and a network upgrade.

Conflux Network partnered with AnchorX and Eastcompeace Technology to develop stablecoins pegged to offshore Chinese yuan.

The planned stablecoin targets countries participating in China's Belt and Road Initiative, including Singapore, Indonesia, and Malaysia.

The Conflux 3.0 network upgrade is scheduled for an August launch with advanced processing capability reaching 15,000 transactions per second.

The upgrade aims to enable large-scale settlement of cross-border payments and real-world asset tokenization.

Conflux market capitalization reached $1.1 billion while partner Eastcompeace Technology’s stock hit the 10% daily limit in Shenzhen.

AnchorX is exploring an "AxCNH" stablecoin with technical support from the Conflux blockchain infrastructure.

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This content is for informational purposes only and does not constitute investment advice.

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