Chinese public blockchain, Conflux Network, is conducting a new stablecoin trial called AxHKD. AxHKD aims to be a compliant virtual asset backed by the Hong Kong Dollar, thereby offering exciting services in global payments and virtual asset trading.
AnchorX, a fintech company, is offering AxHKD among Conflux Network projects. The next step would be the Ethereum blockchain platform. This will allow investors to take advantage of arbitrage opportunities and carry out cross-border transactions between cities in a much simpler way.
Furthermore, AnchorX is also responsible for the problem-free blockchain used in the virtual asset exchange.
At the beginning of the year, Conflux announced the release of an EVM-compatible Layer 2 network solution. The team also discussed the possibility of adopting a Proof-of-Stake (PoS) protocol. They are working towards ensuring that the testnet for the trial is launched in Q1 2024, and the mainnet is released in May.
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