I just saw that Tether stopped issuing CNH₮ recently, and honestly, it's interesting how these stablecoins of local currencies just don't catch on. They stopped minting tokens on February 20th and now give a year for withdrawals. I mean, if you have CNH₮, you need to move before support is shut down.

The thing is, CNH never gained enough traction on exchanges. Tether launched it around December 2022, thinking the offshore yuan would be the next big thing, but adoption was nonexistent. Trading volumes were low, liquidity was never solid. Meanwhile, USDT remains the market's beast with huge volumes every day.

I guess Tether decided that maintaining a product with no real demand isn't worth it. Monitoring reserves, compliance, exchange integrations... all that costs money if the token isn't being used. The stablecoin market is becoming more competitive, and only those that truly work survive. CNH₮ didn't make it, and that's that. Now Tether is focusing all its energy on USDT and other assets that actually generate activity.

This is the reality of the sector: not everything launched prospers. Some see this as Tether being more disciplined with its resources, others will say it was a bad strategy from the start. Still, a year to withdraw is enough time to avoid leaving people hanging.