News Snapshot:
Shanghai Using Permissionless Blockchain to Pilot the Use of RMB for Cross-border Payments Conflux’s permissionless blockchain will be used to test the digital RMB for cross-border payments in Shanghai’s Lingang Pilot Free Trade Zone. In July, China's central bank has approved the Lingang Pilot Free Trade Zone to test the free capital inflows and outflows. In January, the Shanghai government invested $5 million in the network. “Conflux public blockchain will pilot the use of the RMB offshore stablecoin for cross-border payments as part of Shanghai Free Trade Zone initiative- the renminbi is China's official currency, while the Yuan is the...
