Tether launches yuan-pegged stablecoin on Tron

Tether announced the integration of its Chinese yuan stablecoin (CNHT) to the Tron blockchain. Bitfinex will be the first exchange to support deposits and withdrawals in the new stablecoin.

Tether initially launched its offshore Chinese Yuan stablecoin (CNHT) on Ethereum in 2019. Tron will be the second blockchain where CHNT can be traded, as announced by the company today.

Paolo Ardoino, Tether’s CTO, said that the move is intended to move the crypto community forward despite the market crash.

“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.”

Paolo Ardoino, Tether’s CTO

CNHT is the fourth stablecoin operated by Tether. The company also supports stablecoins pegged to the U.S. Dollar (USDT), Euro (EURT), and Peso (MXNT).