Tether launches yuan-linked steblecoin on Tron blockchain

Tether launches yuan-linked steblecoin on Tron blockchain

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Tether launches yuan-linked Stablecoin on Tron blockchain
Bitfinex will be the first exchange that will allow its users to deposit and withdraw CNHT

Tether announced the launch of CNH Tether (CNHT), a CNH Stablecoin pegged to the Chinese yuan, on the Tron blockchain. It has a market capitalization of $2.9 million, according to CoinGecko.

Tether is the issuer of the leading Stablecoin and the third co-capitalization cryptocurrency USDT, pegged to the U.S. dollar exchange rate. It has also issued EURT (Euro Tether), MXNT (Mexican Peso Tether), and XAUT (Tether Gold) tokens pegged to the gold exchange rate.

With the launch of the CNHT token, Bitfinex became the first exchange to allow its users to deposit, withdraw and store Stablecoin in the Tron blockchain. Huobi also announced the token listing. The ability to deposit and withdraw funds to CNHT (TRON) on the platform will open in the near future, and spot trading in USDD Stablecoin will begin when the volume of deposits meets market trading requirements, which the exchange will announce additionally.

Tether Stablecoin, is backed by 82% cash and cash equivalents, short-term deposits and commercial paper. Of these, more than 70% are U.S. Treasury bills. The company has been phasing out risky assets and transferring reserves into U.S. government debt securities. In mid-October, Tether reported that it had completely removed commercial securities from its Tether (USDT) Stablecoin collateral.

 

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