On Dec. 6, Tether, the stablecoin issuer, revealed that its offshore Chinese Yuan (CNH) would now be available on the Tron blockchain. Using the Tron blockchain transport layer, Bitfinex will be the first exchange to let users deposit and withdraw CNH₮ at launch.
CNH₮ Now On Tron
CNH₮ was founded in 2019 and is linked to the offshore Chinese yuan (CNH). With the debut of CNH on TRON, it will become the second blockchain on which it is possible to acquire, trade, and hold CNH, which was initially only available as an ERC-20 token on the Ethereum network.
Tether’s CTO, Paolo Ardoino, expressed his excitement about bringing CNH₮ to the Tron ecosystem and stated that,
“At a time when the crypto market is experiencing immense turmoil, we believe that the best way forward is to keep building. Things are business as usual at Tether and we hope our continued growth and expansion will inspire others to keep going as well.”
This is a developing story and is being updated frequently.
The post Breaking: Tether Launches Chinese Yuan (CNH₮) On Tron appeared first on CoinGape .
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