Tether Launches a Stablecoin based on Yuan on Tron’s Blockchain

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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.