Tether Discontinues CNHt Stablecoin Due to Low Demand

Tether has announced that it will discontinue its offshore Chinese yuan-pegged stablecoin, CNHt. The decision was made due to low demand and limited sustained community interest in the product.

The wind-down will happen in two stages: minting will stop immediately, but redemptions will be allowed for a year after the announcement. Holders of CNHt across supported blockchains have been encouraged to redeem their tokens before the deadline.

Tether's focus has shifted towards products with broader liquidity and sustained market demand. The company aims to improve the liquidity of core stablecoins, build infrastructure for tokenization, and help global users and builders access new financial tools.