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AnchorX Signs MOUs in Kazakhstan to Boost Cross-Border Belt and Road Trade

AnchorX, a Hong Kong-based fintech company specializing in stablecoins, has signed two Memorandums of Understanding (MOUs) in Kazakhstan. This development occurred during its participation in the Mainland-Hong Kong Joint Business Mission from May 16-25, 2024, which visited Hungary, Kazakhstan, and Xinjiang to explore partnership opportunities along the Belt and Road (B&R) routes.

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The mission invited AnchorX to leverage its stablecoin expertise, advancing technological innovation and the digital economy with B&R partners. AnchorX intends to use its stablecoin offerings, including the HKD-backed AxHKD, to facilitate cross-border trade and business between Hong Kong and B&R partner countries.

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The first MOU is with the Astana International Financial Centre Authority (AIFC Authority), the regulatory body developing the AIFC as a leading financial hub for Central Asia, the Caucasus, EAEU, and Western China. The second MOU is with Aral Petroleum Capital, a major oil and gas company in Eastern Kazakhstan.

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Conflux Network, providing the technology for AxHKD, is working with the Chinese government on the “Ultra-Large Scale Blockchain Infrastructure Platform for the Belt and Road.” This platform aims to create a state-of-the-art blockchain foundation to support deployment across multiple countries and enable collaborative supervision across various domains.

About AnchorX

AnchorX is a Hong Kong-based fintech company with the vision of becoming Asia’s most trusted provider of digital currency solutions. It has strategic support from top-tier financial and blockchain companies, including Hony Capital and Conflux Network. AnchorX’s flagship stablecoin, AxHKD, maintains a 1:1 HKD peg and is designed to facilitate cross-border transactions, promoting the integration of digital and traditional assets in Hong Kong.

About Conflux

Conflux Network is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Utilizing a hybrid PoW/PoS consensus mechanism, it ensures a rapid, secure, and scalable blockchain environment. Conflux eliminates congestion, keeps fees low, and enhances network security.

As China’s leading regulatory-compliant public blockchain, Conflux offers a significant advantage for projects entering the Asian market. It collaborates with renowned global brands and government entities in the region, driving blockchain and metaverse initiatives. Notable partnerships include the city of Shanghai, China Telecom (NYSE), Little Red Book (China’s “Instagram”), McDonald’s (NYSE) China, and Oreo.

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