It has been revealed by a Bitfinex shareholder that Tether Holdings, the company behind the widely successful stablecoin Tether (USDT) is planning to launch an offshore Chinese yuan Stablecoin dubbed s the CNHT.
In addition to this, Zhao Dong, the source of the information, says that the same company is also considering to launch Stablecoins backed by bulk commodities like gold, rubber and crude oil.
Tether Holdings plans to emulate its success with Tether USDT as it became the most dominant stablecoin and currently accounts for the majority cryptocurrency trades— 75% of all BTC trades, 49% of ETH, 40% XRP, and 57% BCH.
Zhao Dong reveals that once the CNHT is made available to the public his OTC Business Renrenbit will support the new stablecoin which he thinks could boost the circulation of offshore renminbi and internationalization.
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