Tether will cease the issuance and redemption of the offshore Chinese yuan stablecoin CNHT

According to official news, Tether announced that it will cease the issuance of the offshore Chinese yuan stablecoin CNHT from today and will stop supporting the redemption of CNHT one year after the announcement is made.

Tether stated that consumer interest in the product is low, the community demand for CNHT is limited, and its usage level is insufficient to support the operational support required by the standards adopted by all products under Tether.