Tether announced its decision to end support for the offshore yuan stablecoin CNHT. The company stated that with the implementation of this decision, it has immediately ceased issuing new CNHT tokens.
It was also announced that buyback support for CNHT will completely end one year after the announcement, and users will receive an additional reminder before that date.
In a statement, Tether said the decision was made in response to changing market conditions and limited demand for the product. According to the company, the current scale of CNHT usage no longer justifies the resource allocation required to maintain the operational standards applied to all Tether products. Therefore, the company is pursuing a strategy of redirecting its resources to products with stronger, organic adoption.
Tether stated that the discontinuation of CNHT support would be a two-stage, transparent process. The first stage would completely halt new issuances, while the second stage (one year after the announcement) would end buyback support. During this period, CNHT would remain redeemable under normal conditions, subject to Tether’s terms of service. The company advised users holding CNHT to repurchase their assets as soon as possible.
The statement also indicated that Tether will focus on developing core stablecoins with strong liquidity, improving tokenization infrastructure, and creating more sustainable financial tools for global users in the coming period.
*This is not investment advice.