Author: 1912212.eth, Foresight News
On July 20, the price of Conflux public chain token CFX entered a surge mode, rising from around $0.11 to a peak of $0.25, with a single-day increase of over 100%. In July 2023 alone, it recorded a monthly increase of 202%. If calculated from the bottom of $0.02 in December 2022, it has achieved an increase of over 10 times. As of now, the market capitalization of this token is approximately $870 million.
As a relatively unique entity among domestic public chains, Conflux's market capitalization performance is not particularly eye-catching, but a recent piece of news is worth noting.
Recently, the "Liberation Daily" published an article stating that the Conflux Tree Graph Technology and Ecological Development Conference was held in Shanghai, where the Conflux Tree Graph public chain announced the release of version 3.0 and plans to participate in the pilot issuance of offshore RMB stablecoins under the "Belt and Road" initiative. This article was also reprinted on the Shanghai Municipal Government's website.
Issuance of Offshore RMB Stablecoins under the "Belt and Road" Initiative
The wave of stablecoins is sweeping the globe, and the broad application scenarios are attracting significant market attention. Conflux plans to participate in the pilot issuance of offshore RMB stablecoins under the "Belt and Road" initiative. This pilot focuses on issuing stablecoins pegged to offshore RMB (CNH), aiming to facilitate cross-border trade settlement and RWA applications, covering countries along the "Belt and Road," particularly in Central Asia and Southeast Asia.
Domestically, there is also growing attention to the popularity of stablecoins. An article published by the National Financial and Development Laboratory's WeChat account indicated that Deputy Director Yang Tao recently pointed out that stablecoins have surpassed the traditional offshore and onshore categories, and a linked development model for domestic offshore and foreign offshore RMB stablecoins should be considered. The article suggested that relevant innovations in RMB stablecoins could be promoted simultaneously in the Shanghai Free Trade Zone and Hong Kong.
Additionally, according to reports from People's Finance Network, the Shanghai State-owned Assets Supervision and Administration Commission recently held a study meeting focusing on the development trends and response strategies for cryptocurrencies and stablecoins.
Since the introduction of China's "Belt and Road" initiative (BRI) in 2013, it has become the world's largest infrastructure and trade cooperation framework, covering multiple continents including Asia, Europe, and Africa, involving nearly 150 countries and regions. Its market space is primarily reflected in trade volume, investment scale, and economic growth contributions. According to the latest data, total investment in the BRI has exceeded $1 trillion, and by 2030, the BRI is expected to generate $1.6 trillion in annual revenue, connecting China with 229 cities and driving growth through energy, mining, and technology sectors.
According to reports from Shangguan News, at this conference, Conflux also signed strategic cooperation agreements with institutions such as AnchorX and Dongxin Peace to jointly explore stablecoin issuance, cross-border payments, and asset settlement. AnchorX is a fintech company based in Hong Kong that has created a stablecoin pegged to the Hong Kong dollar, AxHKD. Hony Capital, a Chinese investment management group, provides resource support and business collaboration for AnchorX.
Negotiating Acquisition Matters with Hong Kong Listed Companies, Public Chain 3.0 to be Released in August
The upgrade to Conflux public chain 3.0 is a technical driving factor behind the recent price surge. This upgrade is scheduled to officially launch in August 2025, with version 3.0 further introducing parallel block processing and AI agent support, increasing TPS from the current 3000-6000 to over 15,000, and even higher levels in simple payment scenarios.
In addition to the technical upgrade, another important announcement has recently attracted market attention. Hong Kong listed company Pioneer Pharma Biotechnology (00399) announced that on June 30, 2025, the company (as the buyer) has signed a memorandum of understanding with the seller (Northwestern Foundation) and Conflux regarding the potential acquisition of all equity in the target company, contingent upon the target company completing the acquisition of Conflux assets as per the agreement with the company.
After the news was announced, Hong Kong listed company Pioneer Pharma (HK:00399) saw its stock price surge by 240% at one point, reaching a high of HK$0.7.
The two founding members of Conflux, Long Fan and Wu Ming, are both executive directors of Pioneer Pharma. According to Roodata data, Wu Ming and Long Fan are also core team members of the AI public chain OG, with Wu Ming serving as the co-founder and CTO of the project.
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