COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Conflux Network Announces Hong Kong’s First Stablecoin with AnchorX
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Altcoin News > Conflux Network Announces Hong Kong’s First Stablecoin with AnchorX
Altcoin News

Conflux Network Announces Hong Kong’s First Stablecoin with AnchorX

In Brief

  • Conflux Network launches Hong Kong's first stablecoin, axHKD, in collaboration with AnchorX.

  • axHKD stablecoin aims to bridge traditional finance with Web3 technology.

  • Strategic partnership enhances crypto's usability in everyday transactions.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

Blockchain pioneer Conflux Network (CFX) has teamed up with fintech company AnchorX to introduce Hong Kong’s first Hong Kong dollar-pegged stablecoin, axHKD. This significant initiative represents a major step in integrating traditional finance with Web3 technology and positions Conflux Network as a key solution in bridging the gap between Hong Kong’s traditional markets and the cryptocurrency market.

Contents
Conflux Network Entrusted with the Stability of axHKD StablecoinHong Kong’s Cryptocurrency Regulations Serve as a Guide

Conflux Network Entrusted with the Stability of axHKD Stablecoin

Hong Kong-based fintech company AnchorX has selected Conflux Network and OKLink Trust for custody services to ensure the stability, scalability, and security of the axHKD stablecoin, which is pegged to the Hong Kong dollar. Initially deployed on the Conflux Network, the stablecoin will later be launched on the Ethereum Blockchain, offering seamless and reliable pegging to the Hong Kong dollar at a 1:1 ratio.

Backed by a dedicated security arrangement and high-quality liquid asset reserves protected by regulated financial institutions, including prominent firms like Hony Capital, the axHKD stablecoin is set to revolutionize global cross-border transactions while serving as a fiat-on-chain system for cryptocurrency trading. This strategic collaboration between AnchorX, Conflux Network, and OKLink Trust is part of the increasing convergence of traditional finance with the innovative potential of Blockchain technology.

Conflux Network’s founder Fan Long described this partnership as a significant milestone in increasing the daily transactional use of cryptocurrencies. The initiative aims to facilitate the seamless integration of traditional financial infrastructure with Blockchain technology, thereby enhancing the accessibility and utility of cryptocurrencies in real-world applications and encouraging the adoption of innovative financial solutions.

Hong Kong’s Cryptocurrency Regulations Serve as a Guide

In light of the increasing demand for regulated cryptocurrencies, regulatory authorities in Hong Kong, including the Securities and Futures Commission (SFC) and the Monetary Authority (HKMA), have made several moves indicating their openness to regulating cryptocurrencies.

The proposed regulatory regime for stablecoin issuance, combined with the establishment of a stablecoin “sandbox,” has attracted key players like AnchorX and Harvest Global, highlighting the significant effort to promote a strong and transparent regulatory framework.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Shiba Inu’s Massive Coin Burn Signals Bold Market Movements

Golden Visa Spurs Toncoin’s Meteoric Rise in Financial Markets

The Cryptocurrency Market Faces Turbulence as Old Bitcoin Whales Act

Crypto Market Movers: Bitcoin Eyes New Heights

Whale Movements Stir Bitcoin’s Waters

COINTURK NEWS 8 March, 2024 - 2:40 pm 8 March, 2024 - 2:40 pm
Share This Article
Facebook Twitter
Share
Previous Article Litecoin (LTC) & Uniswap (UNI) Lead Kelexo (KLXO) Presale Hype with Stage 2 Surge: Ethereum (ETH) Holders Intrigued As 20X Rumors Continue
Next Article Meme Coins DOGE and SHIB Lead Gains in Crypto Bull Run
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

BlackRock’s Bitcoin ETF Climbs to New Heights in Revenue Generation
Bitcoin (BTC)
The Dollar Takes a Hit as Global Economic Dynamics Shift
Economy
Michael Saylor Boosts Strategy’s Bitcoin Holdings
Bitcoin News
Bitcoin Faces Significant Decline in User Activity Despite Soaring Prices
Bitcoin (BTC)
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?