Tether to Issue Stablecoin Pegged to Chinese Yuan
Main page News, China, Exchange, Crypto Market, Cryptocurrency, Stablecoins
Hot topic
Aug. 21, 2019
264 264

According to Zhao Dong, a shareholder of Bitfinex, the issuer of USDT stablecoin Tether Limited may soon roll out a new stablecoin called CNHT that would be pegged 1:1 to Chinese yuan.

However, Zhao adds Chinese regulators will not be happy about it.

"Hope this won't destroy Tether. I don’t think that CHNT will be in sufficient demand, as local residents continue to exchange USDT for yuan," Zhao highlighted.

Zhao also notes that Tether will not probably start a new banking partner to store assets, so Bahamian bank called 'Deltec Bank' will remain as the main bank partner.

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

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error