Tether announces the official discontinuation of support for the offshore RMB stablecoin CNHT, offering a one-year redemption window.

Deep Tide TechFlow News, February 23 — According to FinanceFeeds, Tether announced on February 21 that it will officially cease support for its offshore RMB-pegged stablecoin CNHT. Launched in 2019, the product aimed to provide traders with a digital channel for offshore RMB but has never gained significant market recognition. Tether stated that this move is part of a strategic adjustment to focus resources on products with “strong endogenous adoption” and long-term community demand. Effective immediately, minting and issuance of CNHT on the Ethereum and Tron blockchains have been halted, and existing holders must redeem before early 2027.

Tether pointed out that the main reason for the exit of CNHT is that its usage scale and liquidity have never matched those of its flagship product USDT, and the ongoing operational and technical maintenance costs are difficult to justify. Market observers believe that the offshore RMB market is constrained by strict capital controls and regulatory scrutiny, which to some extent suppresses the market demand for CNHT.

Tether emphasized that the exit of CNHT does not affect the normal operation of its other products, such as the euro stablecoin EURT and the Mexican peso stablecoin MXN₮. The company will continue to focus on expanding its core USDT assets and advancing on-chain settlement of real-world assets and transparency reporting of reserves.