TrueUSD (TUSD), a stablecoin issued by TrustToken, has launched a new coin called TCNH. It’s pegged to the offshore Chinese yuan (CNH) and is only available for redemption on the Tron network. The coin is listed on Bitforex and Trontrade.
TCNH is a 1:1 stablecoin pegged to the offshore Chinese yuan (CNH) that’s traded in Hong Kong. The coin can only be redeemed on the Tron network for HKD, and it is not transferable or redeemable for any other fiat currency or crypto asset.
TCNH differs from TUSD, as well as other stablecoins issued by third parties, in that it can only be redeemed on the Tron network.
TCNH Commence Its Journey
The TCNH stablecoin is a crypto-token pegged to offshore Chinese yuan (CNH), which is also known as CNH and CNY. The token was issued on top of the Tron network and allows users to trade cryptocurrency with fiat without any intermediaries.
The coin has been listed on Bitforex and Trontrade exchanges since May 11th after being launched by TrueUSD on May 8th with a starting price of 0.95 USD per unit; it hit an all-time high of 1.01 USD per unit shortly after listing but has since fallen back down in value following an initial spike in demand for TrueUSD’s stablecoin products during this period.”
The coin is listed on Bitforex and Trontrade.
Bitforex is a cryptocurrency exchange based in Hong Kong. It was founded by Ben Wang, who also serves as its CEO, in mid-2018 as an alternative to Binance. The exchange supports both fiat and crypto trading pairs, and it’s registered with the U.S. Commodity Futures Trading Commission (CFTC).
TronTrade is a decentralized exchange built on the Tron network that allows users to trade tokens from other blockchains alongside TRX. It’s also registered with the CFTC as well as other regulatory bodies across North America and Europe for its activities related to cryptocurrencies such as peer-to-peer lending or tokenized securities offerings (STOs).
