Tether CNH
Stablecoin Profile
Tether CNH (CNHT) is a fiat-backed stablecoin pegged to CNY, with $0 in circulating supply across 2 blockchain networks. Each CNHT is backed by reserves held by the issuer, with parity attested via defillama. The peg has historically held within ±1% on most trading sessions, with reserve composition and attestation cadence the primary inputs to its credit-risk profile.
About Tether CNH (CNHT)
All Tether tokens are pegged at 1-to-1 with a matching fiat currency and are backed 100% by Tether’s Reserves. Information about Tether Tokens in circulation is typically published daily.
Redeem 1:1
Supply History
Peg stability history
Tether CNH (CNHT) is designed to trade at exactly 1.00 CNY, with its peg defended through direct redeemability against off-chain reserves. Spot price currently sits at $1.0000, a +0.000% deviation from the target — well inside the stability band typical for reserve-backed dollar tokens.
How reserve-backed stablecoins defend their peg
Fiat-backed stablecoins maintain their peg through arbitrage: any time the secondary-market price drifts above $1.00, authorised participants mint new tokens by depositing dollars and sell them into the market; any time it drifts below, they buy on the open market and redeem 1:1 for dollars. The peg therefore depends entirely on (a) the reserves actually existing, (b) the issuer honouring redemption requests promptly, and (c) the issuer remaining solvent and unfrozen.
Practical implications for holders
- Counterparty risk is concentrated in the issuer and its banking partners — a banking failure (as in the March 2023 USDC / SVB episode) can cause short-term depegs even when the underlying reserves are sound.
- Reserve attestations are not full audits. Always read the firm name, scope, and date of the latest attestation report before treating the peg as risk-free.
- Redemption rights typically apply only to verified institutional partners, not to retail holders. Retail exposure is exited via secondary markets, where liquidity matters most during stress periods.
- Regulatory action against the issuer (NYDFS orders, OFAC freezes, court-ordered blacklists) can immediately impair specific addresses or even the entire token.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (reserve-backed) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Contract addresses
Tether CNH (CNHT) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Chain | Contract address | Verify |
|---|---|---|
| Ethereum | 0x6e109e9dd7fa1a58bc3eff667e8e41fc3cc07aef | Explorer |
Contract addresses are sourced from DeFiLlama's stablecoin profile. Some chains (Tron, Solana, Aptos, Sui) use non-EVM address formats. The "Explorer" link opens the official block explorer for the given chain; we do not link out to third-party explorers that may show altered data.
Compare Tether CNH to other fiat-backed stablecoins
Below are the largest fiat-backed stablecoins tracked on Mantapex alongside Tether CNH (CNHT). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Supply | Mechanism | Chains |
|---|---|---|---|
| Tether (USDT) | $184.1B | fiat-backed | 107 |
| USD Coin (USDC) | $79.6B | fiat-backed | 125 |
| World Liberty Financial USD (USD1) | $4.5B | fiat-backed | 8 |
| PayPal USD (PYUSD) | $4.1B | fiat-backed | 7 |
| BlackRock USD (BUIDL) | $2.5B | fiat-backed | 8 |
Peg Stability
Chain Distribution
Resources & data sources
Tether CNH (CNHT) is tracked across major crypto data providers. The links below open Tether CNH (CNHT)'s pages on CoinGecko, CoinMarketCap and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Recent Tether CNH news
Latest reporting from major crypto news outlets covering Tether CNH.
- Crypto news
Tether launches yuan-pegged stablecoin on Tron
Tether announced the integration of its Chinese yuan stablecoin (CNHT) to the Tron blockchain. Bitfinex will be the first exchange to support deposits and withdrawals in the new…
- CryptoSlate
Tether launches CNH₮, a stablecoin pegged to Chinese Yuan
Tether, a leading provider of blockchain-based financial services, has launched an offshore Chinese Yuan-backed stablecoin. The post Tether launches CNH₮, a stablecoin pegged to…
- Coingape
Breaking: Tether Launches Chinese Yuan (CNH₮) On Tron
On Dec. 6, Tether, the stablecoin issuer, revealed that its offshore Chinese Yuan (CNH) would now be available on the Tron blockchain. Using the Tron blockchain transport layer,…
Related stablecoins
Stablecoins comparable to Tether CNH by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Other fiat-backed stablecoins
Stablecoins pegged to CNY
Risk Warning
Stablecoins carry risks including de-pegging, regulatory changes, and counterparty risk. Always diversify and do your own research.