Tether has announced the immediate discontinuation of support for its offshore yuan stablecoin, CNH₮, due to evolving market conditions and limited demand, stating that its scale no longer justifies ongoing operational support. Following this announcement, no new CNH₮ tokens will be issued, and redemption support will conclude one year later, prompting the company to advise holders to redeem their tokens promptly. This decision aligns with Tether’s strategic focus on enhancing core stablecoin liquidity and investing in products with stronger community adoption and long-term viability, reflecting their commitment to a resilient blockchain ecosystem.
Tether discontinues offshore yuan stablecoin CNH₮ support
