Tether, the issuer of the largest stablecoin (USDT) by market capitalization, has launched its offshore Chinese yuan-pegged stablecoin (CNHT) on the Tron blockchain.
The CNHT stablecoin was previously available on Ethereum but has now expanded to Tron to cater to a broader range of users and provide faster and cheaper transactions.
Tether’s move comes as demand for stablecoins continues to grow, particularly in regions like Asia, where stablecoins are used for cross-border trade and as a hedge against local currency fluctuations.
The expansion of CNHT to multiple blockchains enhances Tether’s role in global payments, and the Chinese yuan-pegged stablecoin is expected to see increased adoption for international transactions.
