Conflux Network announced a partnership with AnchorX and Eastcompeace Technology to develop a yuan-pegged stablecoin. The upgrade to Conflux 3.0 promises to significantly increase transaction speeds, enhancing real-world asset settlements.
Following the announcements, the CFX token surged by 57%, reaching 0.22 USD with a market capitalization of 1.1 billion USD. Former Finance Minister Zhu Guangyao supports introducing yuan-backed stablecoins into China’s financial strategy.
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