Tether are set to announce a new stable coin that will be pegged to the Chinese renminbi according to secondary sources. Zhao Dong, a trader and a shareholder of crypto exchange Bitfinex which owns Tether revealed the move on WeChat, saying Tether plans call the stablecoin CNHT. He is also involved with RenrenBit, which will support trading and deposits for CNHT once it is launched. Zhao told CoinDesk that he thinks the new stablecoin will be “launched very soon, possibly within weeks.” and the stablecoin’s reserve is believed to be held in a bank in Belgium. In May, eToro brought a yuan-backed stablecoin called “CNYX,” to the market but that is pegged to onshore yuan (CNY). From a traders perspective this is great news for international transfers as transfers from other major currencies to renminbi can be expensive due to the spreads. Also from a speculative perspective, it will really boost the popularity of stablecoin to Bitcoin and Ethereum transactions. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/MXN Technical Analysis: Pressure eases but risks remains tilted to the upside FX Street 4 years Tether are set to announce a new stable coin that will be pegged to the Chinese renminbi according to secondary sources. Zhao Dong, a trader and a shareholder of crypto exchange Bitfinex which owns Tether revealed the move on WeChat, saying Tether plans call the stablecoin CNHT. He is also involved with RenrenBit, which will support trading and deposits for CNHT once it is launched. Zhao told CoinDesk that he thinks the new stablecoin will be "launched very soon, possibly within weeks." and the stablecoin's reserve is believed to be held in a bank in Belgium. In May, eToro brought… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
