Conflux Network, a Chinese public blockchain, is launching a new stablecoin trial named AxHKD. AxHKD intends to be a compliant virtual asset backed by the Hong Kong Dollar, providing new services in worldwide payments and virtual asset trading.
AnchorX, a financial startup, is one of the Conflux Network projects. The next step would be the Ethereum blockchain platform. This will enable investors to take advantage of arbitrage possibilities and conduct cross-border transactions between locations in a more simpler manner.
AnchorX is also in charge of the stable blockchain used in the virtual asset exchange.
Conflux launched an EVM-compatible Layer 2 network solution earlier this year. The team also talked about the idea of using a Proof-of-Stake (PoS) mechanism. They want to deploy the trial’s testnet in Q1 2024, followed by the mainnet in May.
