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Tether CNH
About Tether CNH
CNH₮ is a stablecoin issued by Tether, pegged 1:1 to the offshore Chinese yuan (CNH). Launched in 2019 on Ethereum and later issued on Tron, it is part of Tether’s broader suite of fiat-pegged tokens. CNH₮ is primarily used for trading, cross-border payments and as a hedge against market volatility. The token is backed by Tether’s reserves and operates under the same issuance and redemption framework as other Tether products.
Tether is a blockchain-enabled platform designed to facilitate the digital use of traditional fiat currencies. Operated by Tether Holdings Limited, the company issues various stablecoins, including USD₮ (pegged to the US dollar), EUR₮ (pegged to the euro), CNH₮ (pegged to the offshore Chinese yuan), MXN₮ (pegged to the Mexican peso), and XAU₮ (pegged to gold). These stablecoins aim to combine the benefits of digital currency—such as fast transactions and low fees—with the stability of traditional currencies.
Tether tokens are built on multiple blockchains, allowing for broad integration across various platforms and services. The company asserts that all Tether tokens are pegged at 1-to-1 with their corresponding fiat currency and are backed 100% by Tether’s reserves. Information about Tether tokens in circulation is typically published daily to promote transparency. Tether
CNH₮ is a stablecoin issued by Tether, pegged 1:1 to the offshore Chinese yuan (CNH). Introduced in 2019, CNH₮ was initially available as an ERC-20 token on the Ethereum blockchain. In December 2022, Tether expanded CNH₮ to the Tron blockchain as a TRC-20 token, enhancing its accessibility and usability.