Tether may issue a stablecoin pegged to the Chinese yuan The stablecoin issuer Tether intends to release a new instrument, the rate of which will be pegged to the Chinese yuan. This was announced by the founding partner of the Primitive fund Davi Wang with reference to the statement of the investor of the Bitfinex cryptocurrency exchange, affiliated with Tether, Zhao Dong.

Tether may issue a stablecoin pegged to the RMB

Stablecoin issuer Tether intends to release a new instrument, rate which will pegged to the Chinese yuan. This was announced by the founding partner of the Primitive fund Davi Wang, citing an investor statement from an exchange affiliated with Tether. cryptocurrencies Bitfinex Zhao Dong.

“Chinese regulators can easily get angry about this,” Wang writes. "I hope this doesn't ruin Tether.".

“I don’t think there will be enough demand for CHNT as local people continue to exchange USDT for yuan,” Wang adds. She also notes that for storage of assets in RMB will be used offshore accounts of Deltec Bank, in which Tether is currently serviced.

Earlier it was reported that residents of China are actively using another stablecoin Tether - USDT, the rate of which is pegged to the US dollar.

Tether also serves the EURT stablecoin pegged to the euro, however its capitalization is only € 40 million against more than $ 4 billion for USDT.

The People's Bank of China, meanwhile, is accelerating the development national digital currency. Presumably, the announcement of the Libra cryptocurrency project from Facebook, which is considered by its issuer as a global means of payment, could have influenced the change in the plans of the Central Bank of China..

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