China Launches AxCNH Stablecoin in Bid to Challenge Dollar Dominance

China is stepping up its stablecoin strategy with the launch of AxCNH, a digital token pegged to the offshore yuan by Hong Kong fintech AnchorX. Announced at the Belt and Road Summit, the project aims to streamline cross-border payments and settlements, especially for Belt and Road partners. Backed by partnerships with firms like Zoomlion and listed on Kazakhstan’s ATAIX exchange, AxCNH emphasizes how stablecoins are evolving into tools of economic influence and competition with the US dollar. The post China Launches AxCNH Stablecoin in Bid to Challenge Dollar Dominance first appeared on The Shib Daily source: https://news.shib.io/2025/09/22/china-launches-axcnh-stablecoin-in-bid-to-challenge-dollar-dominance/