AxCNH is a digital stablecoin pegged 1:1 to the offshore Chinese yuan (CNH). It was launched by AnchorX, a stablecoin issuance company licensed by the Astana Financial Services Authority (AFSA). This was the first license of its kind in Central Asia, making AnchorX a pioneer in the region.
AxCNH is fully backed by liquid CNH reserves held in regulated custodial banks, and can be redeemed 1:1 around the clock. The stablecoin enables instant cross-border settlements with minimal costs and full AML/KYC compliance. It is available on the Ethereum and Conflux blockchains, making it compatible with major wallets, DeFi applications, and exchanges.
AnchorX's strategic partners include:
• Hony Capital, an investment fund with $13 billion under management, backend by Legend Holdings, the parent company of Lenovo.
• Conflux Network, the first public blockchain network in China compliant with local regulatory requirements and used in projects by China’s Ministry of Science and Technology.
AxCNH is focused on use cases in cross-border trade (especially between China and Central Asian countries), Web3, DeFi, and virtual financial markets.