CFX big pump over 70% in a single day! Shutu announced participation in the "offshore RMB" issuance, attracting follow on the movements of China's public chain.

Against the backdrop of strict regulation of Crypto Assets in China, news from a domestic Blockchain project has sparked widespread attention in the market. According to reports from Chinese media, Conflux, a tree-structured public blockchain led by a Chinese research team with ties to Tsinghua University, announced at its technology and ecological development conference yesterday (20th) that the tree-structured public blockchain 3.0 will undergo a major upgrade in August. More importantly, they plan to promote the issuance of a Renminbi stablecoin in multiple partner countries. This move not only demonstrates China's ambition in Blockchain technology but also opens up new possibilities for the internationalization of the Renminbi.

China's Public Blockchain Expands Internationally: Technology Upgrades and Global Layout

Since its inception, Conflux Tree Graph Blockchain has attracted significant attention. According to official statements, this public blockchain has accumulated 170 million transactions, covering 25 million users globally and over 40 countries, and has established cross-chain bridges with dozens of mainstream blockchains, showcasing its achievements in technological strength and global connectivity.

The upcoming version 3.0, set to launch in August, will significantly enhance transaction throughput to 15,000 TPS (transactions per second), bringing its processing capacity to an industry-leading level. Additionally, version 3.0 will natively support AI intelligence, cross-border payments, and RWA (real-world assets) batch settlement, aiming to create a "digital highway" for Web3. These technological upgrades are designed to provide a solid foundation for a wider range of application scenarios, particularly in the fintech sector.

Renminbi stablecoin becomes a key pilot: A new financial experiment

It is worth noting that, in addition to the technical upgrades, the strategic layout of the Conflux Blockchain is even more thought-provoking. Conflux has signed strategic cooperation agreements with companies such as AnchorX and Dongxin Pinghe, planning to promote the issuance and cross-border settlement of offshore RMB stablecoins in cooperative countries such as Central Asia and Southeast Asia. This plan will undoubtedly make the Conflux Blockchain a potential testing ground for the internationalization of the digital RMB.

The Tree Graph team emphasized that in the future, they will promote a financial technology model that integrates technology, compliance, and security in multiple countries. This not only validates the international competitiveness of China's Blockchain technology but also provides a more efficient and trustworthy infrastructure for cross-border trade in the global stablecoin and RWA application fields. This strategic move seems to align with the Chinese government's push for the internationalization of the Renminbi and its response to the trend of the dollar stablecoin's global expansion.

Market Reaction is Enthusiastic: CFX Token Jumps Over 70%

Affected by this news, the native token CFX of the Conflux public chain surged over 70% after the news broke, reporting at 0.21 dollars before the deadline. The market responded positively to Conflux's potential involvement in the development of offshore Renminbi stablecoin.

(Source: CoinMarketCap)

Founded by a team of scientists in Shanghai, the compliant mainland Blockchain project Tree Graph Conflux recently reached a strategic cooperation with AnchorX and Dongxin Ping, aiming to jointly promote offshore yuan stablecoin issuance, cross-border settlement, and RWA applications in the cooperating countries. The three parties plan to participate in pilot projects in regions such as Central Asia and Southeast Asia. This indicates that the plan is not unfounded but has concrete partners and pilot areas.

Conclusion:

Conflux Tree Graph Public Chain announced its participation in the issuance of offshore Renminbi stablecoin, undoubtedly marking a significant breakthrough in China's blockchain sector. Against the backdrop of strict regulation on Crypto Assets in China, promoting the application of Renminbi stablecoin in specific regions through a compliant public chain platform not only provides a new path for the internationalization of the Renminbi but also introduces new variables to the development of global digital currencies. The success or failure of this project will have far-reaching impacts on the future global financial landscape. The market will continue to follow the subsequent developments of Conflux Tree Graph Public Chain and its role in the internationalization process of the Renminbi stablecoin.