ChainCatcher reported that CNHC Group, the issuer of the CNHC stablecoin pegged 1:1 to the offshore RMB, has raised $10 million in funding. KuCoin Ventures led the investment, and other investors include Circle and IDG Capital.

It is reported that CNHC aims to expand the adoption of its stablecoin, especially in the Asia-Pacific region. To this end, the company is moving its headquarters from the Cayman Islands to Hong Kong. CNHC also plans to recruit cross-functional departments (including operations, compliance and business development) to expand its existing team. (Source link)