AnchorX, a leading stablecoin issuer from Central Asia and the first to receive a license from Kazakhstan’s Astana Financial Services Authority (AFSA), officially launched AxCNH, the world’s first licensed offshore Chinese Yuan (CNH)-pegged stablecoin.

The announcement was made at the 10th Belt and Road Summit held in Hong Kong, co-organized by the Hong Kong SAR Government and the Hong Kong Trade Development Council.

AxCNH is created to enable seamless cross-border payments and settlements, specifically targeting offshore Chinese enterprises and countries participating in the Belt and Road Initiative (BRI).

AnchorX Unveils AxCNH at Belt and Road Summit in Hong Kong

At the summit, AnchorX signed key Memorandums of Understanding (MoUs) with major companies including Zoomlion, Lenovo, China Brilliant Global, ATAIX, and Conflux.

These collaborations aim to explore AxCNH’s use in cross-border payments, trade settlements, digital asset trading, and Real-World Asset (RWA) tokenization.

Driving Cross-Border Payments and Trade with Belt and Road Partners

In 2024, China’s total trade volume with BRI countries reached RMB 22.1 trillion, representing 50.3% of China’s total trade volume.

AxCNH is designed to support this large trade ecosystem by facilitating efficient, cost-effective transactions and reducing exchange rate volatility.

Strategic Partnerships with Zoomlion, ATAIX, and Conflux Expand AxCNH Ecosystem

Zoomlion, a global mechanical equipment manufacturer operating in over 100 countries and generating more than half of its RMB 23.4 billion overseas revenue in 2024 from BRI regions, has partnered with AnchorX to pilot AxCNH transactions on the Conflux blockchain.

Their collaboration aims to improve cross-border payment efficiency for Zoomlion and its BRI partners.

AnchorX also secured a listing agreement with ATAIX Eurasia, a licensed cryptocurrency exchange in Kazakhstan.

AxCNH has been deployed on the Conflux blockchain, where initial testing was completed.

On ATAIX, AxCNH will trade in pairs with KZT and USDT, currently accessible only to professional clients.

Licensed Infrastructure Supports CNH Internationalization

The launch of AxCNH marks a significant milestone as the first licensed offshore Chinese Yuan-pegged stablecoin. AnchorX positions AxCNH as an infrastructure tool to enhance trade efficiency, reduce currency volatility, and lower transaction costs for businesses operating within BRI countries, supporting the internationalization of CNH.

PHOTO: X/@AnchorX_Ltd

This article was created with AI assistance.