Conflux Launches Offshore Yuan-Backed Stablecoin and Upgraded Network
Introduction
In a groundbreaking move, Conflux, a leading Chinese blockchain enterprise, has introduced a novel stablecoin backed by offshore yuan. This initiative is part of a broader strategy to reinforce its position within the rapidly evolving digital finance landscape in China. The announcement coincided with a significant three-day summit in Shanghai, held from July 18 to July 20, which showcased the company’s latest innovations.
In Brief
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Stablecoin Launch: Conflux’s offshore yuan-backed stablecoin targets cross-border payments and serves enterprises under the Belt and Road Initiative.
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Tree-Graph 3.0 upgrade: This advanced upgrade enhances transaction speed to an impressive 15,000 transactions per second (TPS) and incorporates on-chain AI capabilities to streamline operations.
- Strategic Partnerships: Collaborations with AnchorX, Eastcompeace, and TokenPocket aim to facilitate global adoption and ensure regulatory compliance for the stablecoin.
Upgraded Network to Drive Web3 Integration
At the summit, Conflux unveiled the state-of-the-art Tree-Graph 3.0, marking a pivotal evolution in its public blockchain infrastructure. Designed to bolster international blockchain adoption, this upgrade focuses on providing high-performance digital solutions for global finance.
Key Improvements with Tree-Graph 3.0
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Enhanced Storage Framework: The introduction of a new storage architecture significantly improves efficiency.
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Increased Transaction Capacity: The network can now handle up to 15,000 TPS, catering to high-volume demand.
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On-chain AI Support: Native AI capabilities will enhance smart automation and decision-making on the blockchain.
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Cross-border Transaction Support: The system facilitates batch settlements and real-world asset transactions, streamlining global commerce.
- Launch Timeline: The official rollout of Tree-Graph 3.0 is scheduled for August 2025, representing a major technical milestone for Conflux.
Dr. Yang Guang, CTO of the Shanghai Tree-Graph Blockchain Research Institute, highlighted that the upgrade reduces confirmation times from 30 to 26 seconds and ensures full compatibility with the Ethereum Virtual Machine, which enhances interoperability across blockchain platforms.
Partnerships to Support Stablecoin Rollout
Accompanying the network upgrade, Conflux announced the launch of its offshore yuan-backed stablecoin, developed in collaboration with fintech pioneer AnchorX and cybersecurity specialist Eastcompeace. This stablecoin is strategically oriented toward cross-border transactions, specifically targeting Chinese enterprises conducting business in regions involved in the Belt and Road Initiative.
Expanding Market Reach
To foster adoption, Conflux joined forces with TokenPocket, a platform that boasts over 30 million users and more than 5 million monthly active users. This partnership is pivotal in extending the global footprint of the Conflux ecosystem.
TokenPocket expressed its enthusiasm on social media, outlining their commitment to backing the stablecoin, enhancing cross-border payment solutions, and promoting real-world asset applications in select international markets. Furthermore, strategic collaborations with AnchorX and Eastcompeace will facilitate overseas pilot projects in Belt and Road regions, focusing on stablecoin issuance and cross-border settlements.
Conflux Stablecoin Launch Aligns With Regional Regulatory Push
The timing of the offshore yuan-backed stablecoin launch reflects a broader regional trend aimed at formalizing stablecoin operations. In Hong Kong, interest in such financial instruments has intensified, with around 40 companies recently applying for licenses to issue stablecoins. This surge aligns with the city’s initiative to establish formal regulations governing digital currency operations.
The Hong Kong government has put forth a regulatory framework, known as LEAP, to be overseen by the Securities and Futures Commission, which is set to go into effect on August 1, 2025. This will mark a significant step toward regulated stablecoin issuance within the region.
Conclusion
Conflux’s proactive stance in launching its offshore yuan-backed stablecoin and enhancing its blockchain infrastructure signals an exciting shift toward integrating digital finance with traditional assets. With a strong focus on improving cross-border trade and making digital finance more accessible, these developments are set to play a vital role in the global financial ecosystem.
