Conflux Sets the Pace: CFX Price Doubles as Offshore Yuan Stablecoin and Conflux 3.0 Draw Global Spotlight
A 115% Rally in 24 Hours
Conflux Network's native token, CFX, erupted from dormancy overnight, leaping 115% to briefly trade at US $0.25—its highest mark since December. Trading volumes ballooned from under US $60 million to more than US $1.7 billion, lifting Conflux's market capitalization to US $1.09 billion and re-entering the top-120 crypto assets by size.
The surge followed a weekend conference in Shanghai where the Layer-1 blockchain unveiled two headline initiatives: an offshore-yuan-pegged stablecoin and the forthcoming Conflux 3.0 upgrade. State-run outlets amplified the news, igniting Asia-based trading desks and retail sentiment alike.
Executive Summary
Key findings:
CFX's 115% rally reflects institutional validation of Conflux's China-compliant blockchain infrastructure approach. The combination of offshore Yuan stablecoin development, 15,000 TPS scaling via Conflux 3.0, and 30M+ user distribution through TokenPocket creates a compelling narrative for sustained growth in Asia-Pacific markets. However, regulatory execution risk remains high.
AxCNH: A Belt-and-Road Payment Rail
Conflux confirmed it is working with AnchorX, a Hong Kong–based fintech firm, and Eastcompeace Technology (Shenzhen: 002017) to launch AxCNH, a stablecoin pegged 1:1 to the offshore yuan (CNH). Unlike China's domestic e-CNY pilot, AxCNH targets cross-border corridors tied to the Belt and Road Initiative (BRI), the country's flagship infrastructure program spanning more than 140 nations.
With Hong Kong's stablecoin licensing regime scheduled to take effect on August 1, the consortium hopes to secure early-mover advantage in a region poised for regulatory clarity. Eastcompeace's shares hit the 10% daily limit on Monday following the news.
AxCNH Stablecoin Features
- 1:1 peg to offshore Chinese yuan (CNH)
- Cross-border Belt and Road Initiative focus
- Hong Kong regulatory compliance
- Partnership with Eastcompeace Technology
Strategic Partnerships
- AnchorX: Hong Kong fintech leader
- Eastcompeace: Public company (002017)
- TokenPocket: 30M+ user wallet
- Conflux Network: China-compliant blockchain
Conflux 3.0: Scaling to 15,000 TPS
Slated to go live in August 2025, Conflux 3.0 promises throughput of 15,000 transactions per second, positioning the network for large-scale settlement, real-world-asset issuance, and cross-border trade finance. The upgrade will introduce parallel execution, enhanced EVM compatibility, and native support for the AxCNH stablecoin.
Past "China narrative" rallies—including Conflux's 2023 tie-up with China Telecom on blockchain-enabled SIM cards—have shown that policy alignment can be a powerful catalyst. Conflux 3.0 seeks to cement that positioning with enterprise-grade performance and compliance-first design.
TokenPocket Partnership Extends Global Reach
In a separate announcement, decentralized wallet giant TokenPocket revealed a strategic alliance with Conflux and AnchorX to accelerate stablecoin adoption and real-world-asset (RWA) payments across Central and Southeast Asia. Serving more than 30 million users, TokenPocket will integrate AxCNH and roll out pilot programs for merchants and remittance providers.
The collaboration underlines Conflux's ambition to become critical infrastructure for cross-border commerce, bundling high-throughput settlement (Conflux 3.0), a compliant unit of account (AxCNH), and a user-friendly distribution channel (TokenPocket).
Partnership Benefits
The TokenPocket integration creates a complete ecosystem for yuan-denominated crypto payments:
1. Distribution Scale
30+ million users across Asia-Pacific with immediate AxCNH access
2. Merchant Integration
Pilot programs for cross-border trade finance and remittances
3. Regulatory Alignment
Hong Kong licensing provides compliance framework for expansion
Market Context and What's Next
CFX's explosive move arrives amid renewed interest in Asia-centric blockchains and yuan-denominated assets. While mainland China maintains its ban on crypto trading, Hong Kong's progressive stance is encouraging Chinese corporates—JD.com and Ant Group among them—to explore offshore yuan stablecoins. Should regulators green-light such projects, Conflux's early partnerships could offer a home-field advantage.
Volatility remains a constant risk—CFX is still 80% below its 2021 all-time high—but the blend of policy alignment, enterprise partnerships, and technical upgrades offers a tangible narrative for continued adoption.
Risk Factors
- Regulatory uncertainty: Hong Kong stablecoin framework still evolving
- Competition: Multiple projects targeting China-HK corridor
- Technical execution: Conflux 3.0 delivery timeline pressure
- Market volatility: 80% below ATH, sentiment-driven rallies
Growth Catalysts
- First-mover advantage: Early Yuan stablecoin positioning
- Enterprise partnerships: China Telecom, now TokenPocket
- Policy alignment: Compliance with Chinese regulations
- Technical superiority: 15,000 TPS vs competitors
About Conflux Network
Founded in 2018 by Turing Award laureate Dr. Andrew Yao, Conflux Network positions itself as the only public blockchain compliant with Chinese regulations. It employs a unique Tree-Graph consensus algorithm that merges Nakamoto security with DAG-style throughput, allowing parallel block processing without sacrificing decentralization. Conflux has collaborated with McDonald's China, the City of Shanghai, and various Web3 startups, framing itself as a bridge between global crypto innovation and China-based enterprises.
Key Technical Advantages
- Tree-Graph Consensus: Unique algorithm combining security and throughput
- Regulatory Compliance: Only blockchain approved for China operations
- EVM Compatibility: Easy migration for Ethereum-based projects
- Enterprise Focus: Government and corporate partnerships
Bottom Line Assessment
The CFX rally represents more than typical crypto volatility—it signals institutional validation of Conflux's China-compliant blockchain infrastructure approach. The combination of Yuan stablecoin development, 15,000 TPS scaling, and 30M+ user distribution creates a compelling narrative for sustained growth.
Key Catalyst: August stablecoin licensing in Hong Kong and Conflux 3.0 launch will determine whether this rally has fundamental staying power beyond speculative momentum.
Risk Assessment: High execution risk on technical deliverables, but unique regulatory positioning offers defensive moat in Asia-Pacific markets.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency investments involve significant risk, and prices can be extremely volatile. The 115% rally mentioned may not reflect current market conditions. Always conduct your own research and consult with qualified financial advisors before making investment decisions. Past performance does not guarantee future results.