Stablecoin operator Tether plans to issue a Chinese yuan-backed stablecoin, local industry media ChainNews reports on Aug. 21.
Bitfinex shareholder Zhao Dong informed the outlet that Tether — the stablecoin operator behind leading stablecoin USDT — plans to issue a new stablecoin in the near future. The stablecoin in question would be backed by Chinese yuans held in offshore accounts under the CNHT ticker.