Tether Launches CNHT Stablecoins Linked to CNY

NHT until recently operated only on the Ethereum blockchain.
Tether Inc. announced about launching CNHT staplecoins, pegged to the Chinese yuan, on the Tron blockchain. CNHT have been in operation since 2019, but until recently they were only available on the Ethereum blockchain, in the form of ERC-20 standard digital assets. The demand for this asset has always been small: the total capitalization of such stabelcoins is currently $2.9 million.
Tether Inc. said that the Bitfinex crypto exchange is currently the first trading platform to allow its customers to open accounts and withdraw funds to CNHT on the Tron blockchain.
Tether Inc. also has EURT (Euro Tether), pegged to the euro, MXNT (Mexican Peso Tether), a Mexican peso-centric stabelcoin, and XAUT (Tether Gold), a digital asset pegged to the gold exchange rate, in its lineup of stabelcoins.
The most popular assets issued by Tether Inc. are USDT Stablecoins, whose total capitalization is $65.689 billion. In the ranking of cryptocurrencies by capitalization, only bitcoin and Ethereum attracted more funds from investors.
CNHT’s launch on Tron could lead to significant demand for such staplecoins, given a number of factors. From an economic perspective, transaction fees in CNHT will now be lower than with Ethereum-based CNHT.
What is important is that there is a growing global concern about the future trajectory of the U.S. dollar. This may lead to the fact that, in order to diversify risks, investors who work in the cryptosphere will increasingly hold funds in CNHT, given that they are tied to the currency of the world’s largest economy, if we take the GDP at purchasing power parity of the yuan.

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