Connect with us

Altcoins

Tether treasury mints over $2 million in CNHT as Bitfinex becomes first exchange to list the stablecoin

Biraajmaan Tamuly

Published

on

Source: Pixabay

Just recently, Tether had announced that it would launch a new stablecoin pegged to the Chinese yuan. In fact yesterday, Tether also announced the addition of Offshore Chinese yuan [CNH] to its basket of supported currencies, while also revealing that the new stablecoin CNHT would be pegged to CNH and would run on the Ethereum blockchain as an ERC-20 token.

Additionally, Tether’s previous transactions of the newly-debuted stablecoin revealed that Tether might have been exploring the idea since April 2019.

In a recent update released by online cryptocurrency transaction tracker, Whale Alert, Tether treasury has minted 20 million CNHT, which is worth $2,815,196. Whale Alert shared the update via Twitter, with the tweet reading,

“20,000,000 #CNHT (2,815,196.40 USD) minted at Tether Treasury.”

The aforementioned CNHT was minted at 9:33:49 UTC on 10 September with a transaction hash of 0x2a2a90439134cec5a0dce07f86dfe9881b02a59f95ba845600aee0ae31473638. The sending party was Tether Treasury whose wallet address was 0xf4b51b14b9ee30dc37ec970b50a486f37686e2a8 and on the receiving end was wallet address 0xc6cde7c39eb2f0f0095f41570af89efc2c1ea828.

Tether’s latest stablecoin, CNHT, would be the fourth stablecoin supported by Tether, along with its previously supported stablecoins which are pegged to USD [USDT], Euro [EURT] and the Japanese yen [JPYT]. However, JPYT hasn’t been launched yet.

Cryptocurrency exchange, Bitfinex, which shares the same parent company as Tether, is the first to list the latest stablecoin CNHT. The stablecoin would be available on the exchange from 10 September after 11:00 AM [UTC] and can be traded via the following trading pairs: BTC/CNHT, USDT/CNHT, and CNH/CNHT.

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.