San Francisco, United States, 15th December, 2022, Chainwire
We are thrilled to announce that the TrueUSD team is launching a new product called TCNH, which is a stablecoin pegged to Offshore Chinese Yuan (CNH) at 1:1. TCNH will be deployed on one of the fastest growing public blockchains, TRON, where users can obtain, hold, and trade the token.
It is worth noting that 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. 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.
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.
Annabel Gan, TUSD Director of Marketing and Business Development, commented “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. 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 is a TRON-based stablecoin pegged to Offshore Chinese Yuan (CNH) at 1:1. It is issued by the TrueUSD team and a sister product of TUSD. For more information, please visit tusd.io/tcnh.
TrueUSD (TUSD) is the first digital asset with live on-chain attestations by independent third-party institutions and is backed 1:1 with USD. So far, it has been listed on more than 100 trading platforms such as Binance and Huobi, and is live on 12 mainstream public chains including Ethereum, TRON, Avalanche, BNB Chain, Fantom, and Polygon. TrueUSD is attested to in real-time by Armanino, one of the largest US-based accounting firms, to ensure the 1:1 ratio of its USD reserve to the circulating token supply and the 100% collateral rate. Users can access the publicly available audit results via the official website tusd.io at any time. TUSD was granted statutory status as authorized digital currency and medium of exchange in the Commonwealth of Dominica on October 7th 2022.