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The world’s first regulated offshore yuan-linked stablecoin has launched in Kazakhstan this month as part of China’s blockchain strategy for international commerce. Reportedly, the cryptocurrency, called AxCNH, went live on September 17 through Hong Kong fintech company AnchorX.
Yang Guang, chief technology officer at Shanghai-based Conflux, stated that the low-key launch could create a “butterfly effect” potentially reshaping cross-border payment systems. Conflux, a Chinese government-backed blockchain network, provided the underlying technology for the stablecoin.
As per Reuters, AnchorX obtained a license from Ka…
Read The Full Article China-Backed Offshore Yuan Stablecoin Debuts in Kazakhstan Under Regulation On Coin Edition.
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