đ¨ BREAKING: Tether Discontinues Support for Chinese Yuan Stablecoin (CNHâŽ)
Tether, the issuer of the worldâs largest stablecoin ecosystem, has announced it will immediately halt all new issuance of its offshore Chinese yuan-pegged stablecoin, CNHâŽ. At the same time, redemption support for the token will continue for one year before being fully terminated.
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đ Whatâs Happening
⢠Issuance stopped immediately
Tether will no longer mint or issue any new CNH⎠tokens.
⢠Redemption support continues for one year
Current holders can redeem their CNH⎠balances until the deadline, after which support ends.
⢠Reason for discontinuation
Tether cited low demand, limited adoption, and changing market conditions as the main factors in its decision to wind down the product.
⢠Focus shift
The firm is reallocating resources toward stablecoins with higher usage, liquidity, and long-term viability, such as USDT and other core offerings.
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đ§ Why It Matters
â Stablecoin market consolidation: The shutdown of CNH⎠highlights how issuers are prioritizing scalable, widely used products over niche currency pegs.
â Liquidity & adoption focus: Tetherâs decision reflects a broader industry trend of concentrating on assets with strong liquidity and global utility.
â Asia stablecoin landscape: While Asian markets explore local currency stablecoins, some models â like CNH⎠â failed to gain traction, emphasizing the dominance of USD-pegged assets.
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đ What Holders Need to Know
⢠Redeem your CNH⎠before the deadline â redemption services remain active for one year. ďżź
⢠After the redemption period ends, CNH⎠support will be fully discontinued.
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đ¨ Tether halts issuance of its offshore Chinese yuan stablecoin (CNHâŽ) and sets a one-year redemption window for holders. The move reflects low demand for CNH⎠and a strategic focus on stablecoins with stronger usage and liquidity.
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