Tether Launches Offshore Yuan Stablecoin on the Ethereum Blockchain
Offshore Chinese yuan (CNH) added to our basket of supported currencies, new stablecoin CNHt now available!
— Tether (@Tether_to) September 9, 2019
This is the third stablecoin minted by Tether with CNHT joining dollar (USDT) and euro (EURT) options. The contract for the new yuan stablecoin can be viewed here. Tether has yet to provide specific details on the custody plans for the yuan.
This development will likely support adoption among Chinese investors looking for more convenient onramps into the digital currency market.
Photo: Marco Verch / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.