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Tether Launches Offshore Chinese Yuan Stablecoin.

Tether announced on September 9 that it has launched a new Offshore Chinese Yuan stablecoin which can be traded on every foreign market currency

CNH represents a further expansion of Tether’s capabilities in facilitating the digital use of traditional currencies, such as US dollar (USDT) and euro (EURT)” according to the announcement CNH₮ is pegged to CNH, and will initially be available only on the Ethereum blockchain as an ERC-20 token

The merits of the new Chinese Yuan stablecoin is that it can be traded in all market currency worldwide. Dong mentioned in August that RenrenBit would list the token however, the Contract address provided in the blog didn’t give any further insights concerning that.

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