The first regulated stablecoin tied to the international version of the Chinese yuan (CNH) and a South Korean won (KRW) stablecoin both launched this week, signaling intensifying competition in the global stablecoin sector. AnchorX, a financial technology company, introduced its AxCNH yuan-pegged stablecoin on Wednesday at the Belt and Road Summit in Hong Kong. The move follows China’s regulatory pivot toward allowing stablecoins for international markets.The AxCNH stablecoin is designed to facilitate cross-border transactions with countries participating in the Belt and Road Initiative (BRI), China’s flagship ... (full story)