Popular Chinese Altcoin Introduces New Stablecoin

Conflux Network has launched AxHKD, a stablecoin pegged to the Hong Kong dollar, as reported by Decrypt. Referred to as the "MATIC of China," Conflux Network aims to provide a high-performance, scalable, and secure blockchain platform for decentralized applications. AxHKD will enable users to transact in a stablecoin that is directly linked to the value of the Hong Kong dollar, providing stability and avoiding the volatility often associated with cryptocurrencies. This integration of blockchain technology with a stable currency like the Hong Kong dollar showcases the potential for innovation and widespread adoption of digital assets in the global financial system.

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Conflux Network Introduces AxHKD Supported by Hong Kong Dollar

According to Decrypt, Conflux Network, known as the “China’s MATIC,” has introduced the AxHKD stablecoin supported by the Hong Kong Dollar.

The Conflux Network, the only public blockchain managed in China, has announced its key role in supporting the beta testing of the AxHKD stablecoin backed by the Hong Kong dollar (HKD).

Created by fintech company AnchorX, the stablecoin will be first launched on the Conflux Network, followed by the Ethereum (ETH) network.

The statement said that AxHKD will be pegged at a 1:1 ratio with HKD, backed by high-quality liquid assets reserves.

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