It’s Official: Tether Launches Yuan-Backed Stablecoin

Libra Coin News
Mon, 09/09/2019 - 16:40
Alex Dovbnya
Tether makes a bold move by officially launching its yuan-pegged stablecoin that might appear in the crosshairs of Chinese regulators      
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Stablecoin issuer Tether has officially announced the launch of the CNHt stablecoin, which is pegged to the offshore Chinese yuan. The new coin will only be available on the Ethereum Blockchain as an ERC20 token.

Tether Whales Control 80 Percent of USDT Supply: Coin Metrics Report

As reported by U.Today, China’s financial regulators might be at odds with Tether’s yuan-pegged version. Moreover, there might not enough demand for CNHt.

Meanwhile, Tether CTO Paolo Ardoino celebrates the expansion of the controversial stablecoin.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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