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Tether Discontinues Offshore Chinese Yuan (CNH₮) Stablecoin Due to Low Demand

Tether Discontinues Offshore Chinese Yuan (CNH₮) Stablecoin Due to Low Demand

Author:

Global Cryptocurrency

Published:

2026-02-22 13:05:02

11

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BTCCSquare news:

Tether, the issuer of the world's largest stablecoin USDT, has announced it will phase out its offshore Chinese yuan-pegged token CNH₮. The decision stems from insufficient market demand and operational considerations.

The company will halt new CNH₮ issuance immediately while allowing a one-year redemption window for existing holders. "Community interest and adoption drive our product decisions," Tether stated, emphasizing its focus on allocating resources to products with stronger ecosystem impact.

This MOVE reflects the challenging adoption landscape for yuan-backed stablecoins in the digital asset market, where dollar-pegged alternatives dominate trading pairs and liquidity pools. Tether's USDT continues to maintain its position as the most widely used stablecoin across global cryptocurrency exchanges.

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