Tag Archives: chinese yuan

CoinspeakerUSD-backed Stablecoins Are Important to Keep Up with China, Former House Speaker Says USD-pegged stablecoins could help the US maintain an hedge over the rising dominance of the Chinese yuan, said former House Speaker Paul Ryan. USD-backed Stablecoins Are Important to Keep Up with China, Former House Speaker Says

Tether, the company behind a controversial USDT stablecoin, has announced the launch of a new ERC-20 token based on the Ethereum blockchain. The new stablecoin tagged ‘CNHT’ is pegged directly to the offshore Chinese Yuan (CNH).There are two kinds of national currency in China: offshore yuan is free from the monetary policies established in Beijing and can be traded freely on foreign currency markets, while onshore yuan trading is under control of the Chinese central bank, the People’s Bank...