Conflux Network Pilots RMB Stablecoin, CFX Surges 17%
- Conflux pilots RMB stablecoin, CFX jumps 17%.
- CFX gains investor focus.
- Potential shift in global fintech.
The Conflux Network has announced the launch of its RMB stablecoin pilot, leading to a 17% surge in CFX within 24 hours. This occurred during the Conflux Tree Graph Technical and Ecological Development Conference in Shanghai.
Conflux’s RMB stablecoin initiative highlights China’s bid to enhance cross-border settlements, directly challenging existing systems like SWIFT, with an immediate 17% CFX price jump.
The Conflux Network, in collaboration with AnchorX, Dongxin, and Ping An, has launched an RMB stablecoin pilot. The Tree Graph mainnet 3.0 release accompanies this initiative, indicating a strong institutional partnership focus. Key players in China’s fintech and insurance sectors are backing the pilot.
“This is definitely not an ordinary good news, but a heavy weapon for the Renminbi to break into the international market on-chain!”
This announcement has led to a significant rise in CFX prices, reflecting increased market interest. The involvement of prominent partners aligns with China’s broader “Belt and Road” strategy, aiming for significant cross-border financial operations integration.
The financial markets have responded, as seen in CFX’s price increase, signifying currency stability interest. Industry observers view this as a strategic shift, potentially affecting how cross-border settlements are conducted globally, positioning RMB in a dominant role.
Experts predict that this pilot may lead to broader financial innovations and regulatory changes in digital currency use. Historical trends suggest that state-backed blockchain initiatives can enhance market confidence, driving potentially sustained investment and development interest.
