Tether Launches Chinese Yuan-Backed Stablecoin
Main page Digest, Fintech, China, Crypto Market, Stablecoins

The issuer of stablecoins Tether has rolled out its new stablecoin pegged 1:1 to the Chinese yuan.

The new stablecoin CNHt is available on the Ethereum blockchain as an ERC-20 token, states the official press release.

Contract address is following: etherscan.io/token/0x6e109e9dd7fa1a58bc3eff667e8e41fc3cc.

Earlier iHodl reported that Tether plans to release a new version of the stablecoin USDT backed by a basket of commodities such as gold, oil and rubber.

In addition to that, according to a report by market research company Coin Metrics, 80% of all Tether tokens are stored in just 318 addresses.

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