The Astana Financial Services Authority (AFSA), the financial regulatory body of Kazakhstan, has approved in principle AnchorX to conduct digital - asset - related currency services, especially as an issuer of fiat - pegged stablecoins. This milestone marks Kazakhstan’s first approval of stablecoin - related business and establishes AnchorX’s leading position in Central Asia.
The bilateral trade volume between Kazakhstan and China has been continuously rising, providing broad space for the application of stablecoins in the field of cross - border payments. In 2023, the total trade volume between the two countries reached $31.5 billion, a year - on - year increase of 30%, and China has become Kazakhstan’s largest trading partner. Thanks to its unique strategic location and key role in China’s “Belt and Road” Initiative, Kazakhstan has vigorously promoted the in - depth development of economic and trade relations between the two sides. In addition, Kazakhstan is an important hub connecting Central Asia and Eurasia. The digital asset market in this region is developing rapidly and is becoming a frontier for virtual asset and blockchain innovation.
In line with the development trend of the industry, AnchorX plans to issue AxCNH, a stablecoin pegged to the offshore RMB (CNH), aiming to facilitate cross - border payments between offshore Chinese enterprises and “Belt and Road” trading partners (such as Kazakhstan). AxCNH is fully backed by equivalent offshore RMB reserves, which are held in independent escrow accounts of regulated financial institutions to ensure the security, transparency of transactions and the 1:1 redemption capability. The first issuance of AxCNH will be carried out on the Conflux blockchain, which is well - known for its security, low latency and low fees.
AnchorX is committed to becoming a leading stablecoin issuer in Asia. The establishment of AnchorX has received strategic support from leading enterprises in the fields of traditional finance and blockchain technology. Hony Capital, a leading investment management group in China, which manages more than $16 billion in assets, provides resource support and business synergy for AnchorX. At the same time, Conflux, as a leading compliant public chain in China, with its excellent technical architecture and security performance, provides solid and reliable underlying technical support for AnchorX.