Conflux plans to launch a Hong Kong dollar-pegged stablecoin in collaboration with AnchorX as early as Q2

ChainCatcher news, Conflux Network is collaborating with fintech company AnchorX to launch a Hong Kong dollar-pegged stablecoin as early as the second quarter of this year.

Conflux founder and CEO Fan Long stated in an interview that the AnchorX team hopes to launch its "AxHKD" stablecoin as soon as possible, but many factors depend on the speed of progress in the regulatory sandbox.

Earlier this month, Conflux and AnchorX announced the beta testing of AxHKD, aiming to maintain a 1:1 peg with the Hong Kong dollar, "backed by a reserve of high-quality liquid assets." According to the company's statement, AxHKD will initially be launched on the Conflux public blockchain, with OKLink Trust serving as the custodian for its stablecoin issuance.