Tether Launches a Stablecoin based on Yuan on Tron’s Blockchain
USDT issuer Tether has recently released a stablecoin on the Tron blockchain tied to the Chinese yuan.
According to the company:
“At launch, Bitfinex will be the first exchange to allow users to deposit and withdraw CNH₮ from the platform using the Tron blockchain transport layer.”
A total of 20.5 million CNH₮ are in circulation, whereas another 4.5 million yuan-based stabelcoins are being prepared for issuance.
The company began issuing CNH₮ of the ERC-20 standard in September 2019.