CNH₮ is a stablecoin issued by Tether, pegged 1:1 to the offshore Chinese yuan (CNH). Launched in 2019 on Ethereum and later issued on Tron, it is part of Tether’s broader suite of fiat-pegged tokens. CNH₮ is primarily used for trading, cross-border payments and as a hedge against market volatility. The token is backed by Tether’s reserves and operates under the same issuance and redemption framework as other Tether products.