Belt and Road Initiative Payments Get a Boost with New Stablecoin Release by Conflux
Chinese blockchain firm Conflux has recently unveiled its latest offering - the Conflux 3.0 network and a stablecoin pegged to the offshore Chinese yuan (CNH). This development, carried out in partnership with fintech company AnchorX and IT security firm Eastcompeace Technology, aims to facilitate cross-border transactions among countries participating in China’s Belt and Road Initiative (BRI).
The stablecoin, named AxCNH, had earlier received regulatory in-principle approval from Kazakhstan’s Astana Financial Services Authority. Conflux has confirmed that the stablecoin they are developing is indeed this same AxCNH, not a separate project. The collaboration with Eastcompeace focuses on ensuring information security, critical to maintaining the stablecoin’s operational integrity and transactional security.
The new stablecoin is designed to enhance trade efficiency, reduce transaction costs, increase liquidity, and promote financial inclusion across BRI nations. By pegging the stablecoin to the offshore yuan—a more freely convertible version of China’s currency—it supports international trade flows and investment aligned with the BRI framework.
To expand the user base, Conflux has partnered with crypto wallet TokenPocket. This partnership will see TokenPocket initiate pilot programs in Southeast Asia and Central Asia, key regions for BRI activities.
The Conflux 3.0 upgrade, slated for launch in August 2025, significantly increases network throughput to over 15,000 transactions per second. This upgrade supports scalable cross-border payments and the tokenization of real-world assets relevant to BRI corridors.
This initiative is a significant step towards supporting China's Belt and Road Initiative by providing a digital yuan-backed stablecoin solution that facilitates secure, efficient, and cost-effective cross-border payments and trade finance in participating countries. By leveraging blockchain technology, this solution reinforces economic connectivity along the BRI.
The launch of Conflux's new stablecoin and network took place during a three-day industry conference. The Belt and Road Initiative, launched by China in 2013, is a comprehensive infrastructure and investment strategy connecting Asia, Africa, and Europe through transportation and trade projects.
In Hong Kong, a new digital asset policy known as LEAP introduces a licensing regime for stablecoin issuers. The regulatory responsibility for these issuers will begin on August 1, with the Securities and Futures Commission overseeing the regulations. This move is part of a growing trend among Chinese firms aiming to establish dominance in the stablecoin sector.
[1] Conflux. (2025). Conflux Launches Conflux 3.0 and Offshore Yuan-Backed Stablecoin AxCNH. [Press Release]
[2] Eastcompeace Technology. (2025). Collaborating with Conflux and AnchorX to Enhance Information Security for AxCNH. [Press Release]
[3] AnchorX. (2025). AxCNH: A Yuan-Pegged Stablecoin for Cross-Border Transactions. [Whitepaper]
[4] Belt and Road Initiative. (2013). Overview of the Belt and Road Initiative. [Official Document]
- With the launch of Conflux 3.0 network and the offshore yuan-backed stablecoin AxCNH, the company aims to invest in technology that enhances trade efficiency, reduces transaction costs, increases liquidity, and promotes financial inclusion across Belt and Road Initiative (BRI) nations.
- The collaboration between Conflux, AnchorX, and Eastcompeace Technology focuses on leveraging technology to ensure information security, critical to maintaining the operational integrity and transactional security of the AxCNH stablecoin, thereby supporting secure, efficient, and cost-effective cross-border payments and trade finance in participating BRI countries.
