Conflux has introduced a new stablecoin backed by the offshore Chinese yuan and launched its Conflux 3.0 upgrade, targeting cross-border payments under the Belt and Road Initiative.
Conflux Network has officially launched its Conflux 3.0 upgrade and a new stablecoin backed by the offshore Chinese yuan. This stablecoin, developed in partnership with AnchorX and Eastcompeace Technology, is designed to facilitate cross-border payments and enhance trade among countries involved in China’s Belt and Road Initiative. The Conflux 3.0 upgrade aims to improve transaction speeds to over 15,000 transactions per second. Following the announcement, the CFX token surged by 57% to $0.22.