The price of Conflux public chain Token CFX has seen a big pump, offshore RMB stablecoin pilot draws follow

Recently, the token price of a certain public chain has shown explosive growth. The token quickly climbed from around $0.11 to a high of $0.25, with a single-day rise of over 100%. Since July, this token has accumulated a rise of 202%. If calculated from last December's low of $0.02, the increase has exceeded 10 times. Currently, the market value of this token is approximately $870 million.

Although the market capitalization performance of this domestic public chain is not particularly eye-catching, a recent piece of news is worth following.

According to reports, a certain public chain technology and ecological development conference was recently held in Shanghai. At the conference, the public chain released version 3.0 and announced plans to participate in the "Belt and Road" offshore RMB stablecoin issuance pilot. This news was subsequently reposted on the Shanghai municipal government's website.

Offshore Renminbi stablecoin issuance pilot

In the global stablecoin wave, the broad prospects of application scenarios are attracting much market attention. The public blockchain plans to participate in the "Belt and Road" offshore RMB stablecoin issuance pilot, primarily focusing on issuing stablecoins pegged to offshore RMB (CNH). This initiative aims to promote cross-border trade settlement and real-world asset (RWA) applications, covering the regions along the "Belt and Road", especially Central Asia and Southeast Asia.

The domestic attention on stablecoins is also increasing. Experts point out that the application of stablecoins has transcended the traditional offshore and onshore categories, suggesting the consideration of a coordinated development model involving domestic offshore and foreign offshore RMB stablecoins. Experts also propose that it may be worthwhile to promote the innovative exploration of relevant RMB stablecoins in sync between the Shanghai Free Trade Experimental Zone and Hong Kong.

In addition, it has been reported that the Shanghai State-owned Assets Supervision and Administration Commission's Party Committee recently held a central group study meeting to learn about the development trends and response strategies of cryptocurrencies and stablecoins.

Since the "Belt and Road" initiative was proposed in 2013, it has become the world's largest infrastructure and trade cooperation framework, covering multiple continents and involving nearly 150 countries and regions. Its market potential is mainly reflected in trade volume, investment scale, and economic growth contribution. According to statistics, the total investment of this initiative has exceeded 1 trillion USD. It is expected that by 2030, the "Belt and Road" will generate an annual revenue of 1.6 trillion USD, connecting China with 229 cities and promoting growth through the energy, mining, and technology sectors.

At this conference, the public chain also signed strategic cooperation agreements with multiple institutions to jointly explore cooperation in areas such as stablecoin issuance, cross-border payments, and asset settlement.

The public chain 3.0 version will be released in August, discussing acquisition matters with Hong Kong listed companies.

The upgrade of this public chain to version 3.0 is one of the technical drivers behind the recent price surge. The new version is scheduled to officially launch in August this year and will introduce parallel block processing and AI agent support, increasing the transaction processing capacity (TPS) from the current 3000-6000 to over 15,000, and may even reach higher levels in simple payment scenarios.

In addition to the technical upgrades, another important announcement recently drew the market's attention. A Hong Kong listed company announced that it has signed a memorandum of understanding with relevant parties regarding a potential acquisition, which involves acquiring all the equity of the target company, provided that the target company completes the acquisition of the public chain assets in accordance with the agreement with the listed company.

After the announcement of this news, the stock price of the Hong Kong-listed company rose by as much as 240%, reaching a maximum of 0.7 Hong Kong dollars.

It is worth noting that the two founding members of this public chain also serve as executive directors of this Hong Kong listed company. According to a data platform, these two founding members are also core team members of another AI public chain project, one of whom is the co-founder and CTO of that project.