So we have a new Stablecoin being tested right now. AxHKD. It is a Hong Kong Dollar baked coin, launched by Conflux Network, that aims to dominate the digital currency market in Asia.
Test stage
It was announced today that this coin is being tested with the infrastructure of Conflux, it guarantees a 1:1 peg to the HKD. And as they say,on the X aanouncement:
Conflux Network Official
@Conflux_Network
AxHKD serves two vital roles in the financial landscape.
1️⃣ Boost global payments with seamless cross-border transactions between Hong Kong/China and the world.
2️⃣ Unlock new possibilities in virtual asset trading with AxHKD as a trusted fiat-on-chain solution.
What is really interesting is that the project is being done with the support of the Chinese Government.
Conflux Network is the only regulatory compliant public blockchain in China, registered in Singapore but with the majority of its investors and critical developers based on China.
Who's working on it
AnchorX is the company developing the AxHKD, backed by high-quality liquid asset reserves held in Hong Kong. OKLink Trust provides custodian services.
Conflux's partnership with AnchorX signals a pivotal step towards merging traditional finance with the Web3 realm, enhancing digital currency practicality for everyday transactions and fostering financial inclusivity.
The Government is also participating on this, since the idea is to facilitate transactions between Hong Kong and China, and the rest of the world.
The Asian market already has a great influence on crypto. With this incursion they are taking, looking to bridge fiat finances with crypto, and use them to expand their commercial borders, are they also gaining more control in a global scale?
Designed by @jes.seth
 |  |  |  |
|---|
Designed by @pashinni
Posted Using InLeo Alpha
