AxCNHPrice

(AXCNH)

AxCNH is a stablecoin pegged 1:1 to the offshore Chinese Yuan (CNH). Issued by the fintech company AnchorX, it is designed to bridge traditional finance with the Web3 ecosystem. Unlike the onshore Yuan, which is subject to strict capital controls, the offshore Renminbi (CNH) used by AxCNH trades freely in global markets, making it an ideal tool for international trade, cross-border settlements, and decentralized finance (DeFi) applications.

AxCNH and e-CNY are distinct digital assets. e-CNY is a Central Bank Digital Currency (CBDC) issued by the People's Bank of China, intended primarily for domestic retail use within mainland China. Conversely, AxCNH is a private, blockchain-native stablecoin issued by AnchorX. It is specifically designed for international cross-border settlements, global Web3 applications, and provides a regulated link between fiat and digital assets for the global market.

Yes, AxCNH operates within a licensed regulatory framework. The issuer, AnchorX, obtained a stablecoin issuance license from the Astana International Financial Centre (AFSA) in Kazakhstan. This makes AxCNH the first officially licensed CNH-pegged stablecoin in the Central Asia region. This regulatory oversight aims to provide higher transparency, security, and compliance compared to traditional unregulated offshore stablecoins.

Each AxCNH token is backed 1:1 by reserves of offshore Renminbi (CNH). These reserves are held in segregated accounts at regulated financial institutions and are comprised of cash and investment-grade government debt securities. To ensure transparency, AnchorX provides regular public reserve attestations, confirming that the circulating supply is fully matched by the held reserves at all times.

AxCNH was initially launched on the Conflux Network (eSpace) and is compatible with other major blockchains like Ethereum and BNB Chain. Its primary use cases include facilitating cross-border payments, particularly for international trade initiatives. It also serves as a fiat-on-chain bridge for Web3 settlements and is integrated into decentralized finance (DeFi) protocols for activities such as lending and borrowing.

AxCNH is available for trading on major cryptocurrency exchanges, including LBank. On these platforms, it is typically traded against other stablecoins or local currencies. Furthermore, the project allows for the 1:1 redemption of AxCNH for CNH fiat currency. This redemption process is facilitated through official AnchorX channels and their regulated custodial partners, providing a reliable exit to traditional currency.