Deep Dive
1. USDT₀ Surpasses $50B Transfers (25 November 2025)
Overview
Conflux is one of 15 blockchains supporting USDT₀, Tether’s omnichain stablecoin, which hit $50B in cumulative transfers. Over 415,000 transactions have occurred across EVM chains, Bitcoin layers, and payment-focused networks like Conflux.
What this means
This strengthens Conflux’s role in cross-chain liquidity, as USDT₀’s growth (20% of volume in the last month) could drive more DeFi activity on its network. However, competition from Paxos’ USDG₀ launch complicates the stablecoin landscape.
(The Block)
2. Alibaba Shifts to Deposit Tokens (14 November 2025)
Overview
Alibaba pivoted to bank-regulated deposit tokens after China tightened stablecoin rules, halting Ant Group and JD.com’s Hong Kong plans. Conflux’s CNH-backed stablecoin (launched in July) remains active for offshore use.
What this means
Conflux avoids mainland restrictions by focusing on Belt and Road markets, but reliance on offshore demand introduces volatility risks. Its CNH stablecoin could benefit if Alibaba’s model gains traction in regulated corridors.
(Finance Magnates)
3. Conflux Launches CNHT₀ Integration (12 November 2025)
Overview
Conflux integrated CNHT₀, an offshore yuan stablecoin, into its DeFi ecosystem via LayerZero’s OFT standard. The network allocated $5–10M in CFX incentives to boost adoption.
What this means
This positions Conflux as a bridge for China’s international trade, with projected ¥2–4B monthly volumes. However, success hinges on partnerships with traditional finance institutions and QR payment systems.
(CoinMarketCap)
Conclusion
Conflux is doubling down on compliant stablecoins and cross-chain infrastructure to sidestep mainland China’s crypto restrictions. With USDT₀ scaling and CNHT₀ targeting Belt and Road commerce, its fate now ties to offshore yuan adoption. Will regulatory tailwinds outweigh competition from Hong Kong’s upcoming stablecoin regime?