Tether launches a new stablecoin called CNHT. The company announced this on Monday on its Twitter. CNHT will be tied to an offshore renminbi, that is, a renminbi that trades outside the main territory of China. Initially, CNHT will be presented as an ERC20 token on the Ethereum blockchain.
“Expanding,” Tether Technical Director Paolo Ardoino writes on Twitter.
According to The Block , in addition to the existing USDT and EURT, Tether also intends to issue a stablecoin JPYT pegged to the Japanese yen.
Market participants told The Block that the release of CNHT against the backdrop of stringent government capital controls in China could adversely affect the local cryptocurrency community.
Earlier, the Chinese authorities have repeatedly come up with various restrictive initiatives regarding cryptocurrencies, including the ban on trading in 2017.
Initially, Tether’s plans to launch the renminbi stablecoin became known last month.
Publication date 09/10/2019
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