Conflux Network has recorded over 160% growth in its CFX token during July, driven by announcements tied to stablecoin development, new technical upgrades, and government-aligned partnerships.
At the recent Conflux Technology & Ecosystem Conference in Shanghai, the network revealed it had partnered with fintech firm AnchorX, Eastcompeace Technology, and the Shanghai International Data Port to launch AxCNH, an offshore yuan-backed stablecoin. The initiative is supported by entities linked to China’s state infrastructure planning and will target cross-border trade among Belt and Road countries.
AxCNH and Cross-Border Finance
The AxCNH stablecoin is set to enter pilot stages in Central and Southeast Asia. It has already received in-principle regulatory approval from Kazakhstan’s Astana Financial Services Authority. According to statements from the conference, the project aims to support capital and data flows between China and its trade partners, using blockchain as the base layer. Shanghai International Data Port, backed by state-owned enterprises, will help integrate the infrastructure to support these flows.
Conflux 3.0 Launch Expected in August
Conflux also introduced its upcoming Conflux 3.0 upgrade, which includes a redesigned execution module and storage system. The changes are expected to increase transaction throughput to 15,000 per second. Native support for on-chain AI agents and real-world asset tokenization will also be added. The mainnet update is scheduled to go live in August.
Multichain and Application Ecosystem Expansion
Recent integrations show Conflux moving toward a broader multichain presence. Firefly Bridge has added support for Conflux, enabling transfers with over 70 other chains. Meanwhile, gaming and AI-focused companies like Kingnet AI and OrcaMind.AI have begun integrating their tools and payment systems into the Conflux ecosystem. These include AI game development frameworks, stablecoin-based payments, and NFT platforms.
Price Movement and Outlook
CFX surged from around $0.18 to $0.28 yesterday, before retreating to $0.19. The sharp rise and pullback are seen as tied to market reaction to the conference and profit-taking after a peak in daily trading volumes. Still, the token remains significantly above its pre-announcement levels.
With stablecoin pilots underway and Conflux 3.0 approaching launch, the network is becoming a regulatory-compliant blockchain aligned with cross-border financial initiatives in Asia.
