Hongkong, China – At the 10th Belt and Road Summit in Hong Kong, jointly organized by the Government of the Hong Kong SAR and the Hong Kong Trade Development Council, AnchorX, a leading stablecoin issuer from Central Asia and the first recipient of a stablecoin license from the Astana Financial Services Authority (AFSA) in Kazakhstan, officially announced the launch of AxCNH, a stablecoin pegged to the offshore Chinese Yuan (CNH). The company signed key Memorandums of Understanding (MoUs) with Zoomlion, Lenovo, China Brilliant Global, ATAIX, and Conflux to explore AxCNH’s applications in cross-border payments, trade settlements, digital asset trading, and Real-World Asset (RWA) tokenization.
AxCNH is designed to facilitate seamless cross-border payments and settlements for offshore Chinese enterprises and Belt and Road Initiative (BRI) countries. In 2024, China’s total trade volume with BRI nations reached RMB 22.1 trillion, accounting for 50.3% of the country’s total trade volume.
Among its strategic collaborations, AnchorX has partnered with Zoomlion, a global leader in mechanical equipment manufacturing with operations in over 100 countries and a significant presence across BRI regions. In 2024, Zoomlion reported overseas revenue of RMB 23.4 billion, accounting for more than 50% of its total revenue. AnchorX and Zoomlion have successfully tested AxCNH transactions on the Conflux blockchain network. Looking ahead, the two companies will collaborate to enhance cross-border payments using AxCNH, enabling Zoomlion and its BRI partners to streamline settlements with greater efficiency and reduced costs.
AnchorX has also secured a listing agreement with ATAIX Eurasia, a leading licensed cryptocurrency exchange in Kazakhstan, and deployed AxCNH on the Conflux blockchain, where initial testing took place. AxCNH will be available for trading on the ATAIX platform in two pairs: AxCNH:KZT and AxCNH:USDT, with access currently limited to Professional Clients.
The launch of AxCNH marks a significant milestone as the first licensed offshore Yuan-pegged stablecoin. As trade between China and BRI countries continues to expand, AnchorX positions AxCNH as an important infrastructure tool to enhance trade efficiency, reduce exchange rate volatility, and lower transaction costs for enterprises operating across BRI economies, thereby supporting the internationalization of CNH.