Tether Launches Chinese Yuan-Pegged Stablecoin on the Ethereum Blockchain

by coindesk 09/09/2019

Tether has launched its Chinese yuan-backed stablecoin, which it revealed will run on the ethereum blockchain as an ERC-20 token.



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Updated: 09/10/2019

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%-3.51221


Updated: 09/10/2019

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Tether (USDT) Launches Digital Yuan Before PBoC

Controversial firm Tether Limited has announced that it is expanding its list of stablecoins by launching an offshore yuan-backed digital currency.  Tether Continues its March The Hong Kong company said in a short blog post that the new stablecoin, known as CNHT, would be pegged one-to-one to the offshore Chinese yuan. Like its popular stablecoin USDT, which is backed by the US dollar, CNHT would be issued as an ERC20 token atop the Ethereum blockchain.