Conflux Token price soars, may participate in offshore RMB stablecoin pilot

Recently, the price of the Conflux public chain Token CFX has surged significantly, rising from around $0.11 to a peak of $0.25, with a single-day increase of over 100%. Since July, the cumulative increase of CFX has reached 202%. If calculated from the low point of $0.02 last December, CFX has achieved an increase of more than 10 times. Currently, the market value of this Token is approximately $870 million.

As a relatively unique presence among domestic public chains, Conflux has recently attracted widespread attention in the market. According to reports, the Conflux Technology and Ecological Development Conference was held in Shanghai recently. At the conference, Conflux announced the release of its 3.0 version public chain and announced plans to participate in the “Belt and Road” offshore RMB stablecoin issuance pilot.

This pilot project will focus on issuing a stablecoin pegged to the offshore Renminbi (CNH), aimed at facilitating cross-border trade settlement and real-world asset (RWA) applications, covering countries along the “Belt and Road” initiative, especially in Central Asia and Southeast Asia.

The academic community in China has also begun to pay attention to the development trends of stablecoins. Some experts point out that stablecoins have already surpassed the traditional offshore and onshore categories, suggesting that a joint development model of domestic offshore and overseas offshore RMB stablecoins should be considered. At the same time, some opinions propose that the innovation and exploration work related to RMB stablecoins can be promoted simultaneously in the Shanghai Free Trade Zone and Hong Kong.

The “Belt and Road” initiative, proposed in 2013, has become the world’s largest infrastructure and trade cooperation framework, covering multiple continents and involving nearly 150 countries and regions. According to statistics, the total investment in the “Belt and Road” has exceeded 1 trillion USD. It is expected that by 2030, this initiative will generate an annual income of 1.6 trillion USD, connecting China with 229 cities and driving economic growth through the energy, mining, and technology sectors.

On the technical level, the Conflux public chain version 3.0 is planned to be officially launched in August next year. The new version will introduce parallel block processing and AI agent support, with the expectation of increasing the transaction processing speed (TPS) from the current 3000-6000 to over 15,000, and in simple payment scenarios, it may even reach higher levels.

In addition, a recent important announcement has also attracted market attention. A Hong Kong listed company announced that it is in talks with Conflux regarding a potential acquisition. The company stated that it has signed a memorandum of understanding with relevant parties, which involves the acquisition of all the shares of the target company, provided that the target company completes the acquisition of Conflux’s assets in accordance with the agreement.

It is worth noting that two founding members of Conflux also serve as executive directors of the listed company. According to the data, these two members are also core team members of another AI public chain project.