TrueUSD has launched TCNH, a stablecoin pegged to Offshore Chinese Yuan (CNH) at 1:1. TCNH will be deployed on TRON blockchain, where users can obtain, hold, and trade the token.
- TCNH is a stablecoin pegged to Offshore Chinese Yuan (CNH). By definition, offshore currencies are stored and traded outside the issuing country while not subject to its financial regulations. They are often used as foreign exchange reserves, or for international investments or settlements.
- TrueUSD said in a press release that TCNH is safe and transparent. “Like other TrueUSD products, TCNH complies with all relevant legal and technical requirements and is audited by world-leading accounting firms,” the company added.
- “We’ve seen that financial markets like Hong Kong are moving towards becoming a global hub for digital currencies so our products are constantly evolving,” states Annabel Gan, TUSD Director of Marketing and Business Development. “We believe that TCNH will further cement our leading position in digital currency infrastructure and contribute to our effort of building a trustworthy and decentralized global payment network.”
- “TCNH provides a new option for tens of millions of users on the TRON blockchain. It’s the latest manifestation of our commitment to digitizing traditional fiat currencies and further connecting the crypto world with the real world. TCNH will become a part of increasingly diverse stablecoin offerings for global users,” the company added.
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