Tether Phases Out CNH₮ Stablecoin, Stops Issuance and Redemptions

Published at 2026-02-21 08:00:11

Tether confirmed on Saturday that it will phase out CNH₮ and exit its issuance and redemption cycles, effectively ending minting and on‑demand redemptions for the yuan‑pegged stablecoin. The company’s announcement closes a channel for direct CNH stablecoin liquidity and signals a withdrawal from that specific fiat corridor.

The change matters because it reduces options for yuan‑pegged liquidity on exchanges, P2P desks and DeFi pools, likely pushing users and market makers back toward USDT or other alternatives. Market observers point to thin demand and regulatory and operational complexities around onshore/offshore CNH rails as possible drivers; whatever the cause, exchanges and liquidity providers will need to rebalance positions and users could face conversion friction or wider spreads while markets adjust.

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