CNHC Group, the issuer of the stablecoin CNHC, has completed a $10 million Series A+ round of financing, led by KuCoin Ventures, with participation from Circle and IDG Capital. CNHC plans to use the funds to expand the use of its stablecoins, especially in the Asia-Pacific region. To achieve this goal, the company is moving its headquarters from the Cayman Islands to Hong Kong, China.
CNHC co-founder Joy Cham said that CNHC hopes to become "part of the foundation and infrastructure of the Hong Kong Web3 ecosystem" and will seek to list its stablecoins on more exchanges (including CEX and DEX) and expand its deposit and withdrawal services. Cham said that in order to achieve this goal, CNHC also plans to recruit more employees for departments such as operations, compliance and business development. (The Block) #dyor