The first regulated stablecoin tied to the international version of the Chinese yuan (CNH) meant for foreign exchange markets, and a South Korean won (KRW) stablecoin launched this week as the global stablecoin race heats up.
Financial technology company AnchorX debuted its AxCNH yuan-pegged stablecoin on Wednesday at the Belt and Road Summit in Hong Kong, according to data-ct-non-breakable=”null” href=”https://www.reuters.com/press-releases/anchorx-axcnh-first-licensed-offshore-yuan-pegged-stablecoin-belt-and-road-summit-2025-09-17/” rel=”noopener nofollow” target=”_blank” title=”null”>Reuters, following a data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/shanghai-mulls-stablecoin-despite-china-crypto-ban-report” title=”null”>regulatory pivot in China embracing data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/china-restricts-hong-kong-stablecoin-activity” title=”null”>stablecoins for international markets.
The stablecoin is meant to facilitate cross-border transactions with countries in the Belt…
