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I just saw that Tether finally gives up on CNH₮. It seems that the offshore yuan stablecoin didn't gain the traction they expected. They stopped issuing it recently, and now they give a year for you to redeem your tokens if you have any. Honestly, I never saw much activity in that, so it makes sense.
The interesting thing is that while CNH₮ wasn't taking off, USDT continues with huge volumes. It seems Tether prefers to focus on what really works. China's digital yuan probably also took market share from this stablecoin. Anyway, another project that didn't manage to find its place. Did you have CNH₮ or know someone who did? 🤔