Conflux will provide the technology to launch an offshore RMB stablecoin pegged to China’s CBDC, the digital yuan.
Our Man in Shanghai: Digital yuan tests, ‘bear market’ and ‘NFT’ searches spike
Digital RMB testing for cross border payments and electric vehicles continues, sentiment takes a dive and blockchain events return to meatspace.
Shanghai Government Invests $5M in Blockchain Startup Conflux
The Shanghai government has invested over $5M in public permissionless blockchain startup Conflux while putting the project in the list of 57 companies that focus on emerging technologies such as 5G and aerospace.
Hong Kong Blockchain VC Hires Former NEO Exec to Launch Shanghai Office
Former NEO general manager Zhao Chen joins Hong Kong-based venture capital firm CMCC Global to lead blockchain equity investments in mainland China at a new Shanghai office.
Blockchain Startup Conflux to Get Shanghai Government Funding for Research Institute
Shanghai will open a blockchain incubation center by the end of December with substantial investment, even as China’s government continues to crack down on crypto-related businesses.
Little-Known Crypto Exchange With Ties to a Shanghai Firm Halts Services, Says CEO ‘Missing’
IDAX, an obscure crypto exchange linked to a Shanghai firm, says its “global CEO has gone missing” and has halted services.
Shanghai Stock Exchange Explores DLT Use In New Research Paper
Shanghai Stock Exchange is pushing for the use of DLT in the securities market but says a lack of regulatory framework is a key hurdle at the moment.