Tron (TRX), a high-performance EVM-compatible blockchain, becomes the technical platform for the latest stablecoin project pegged to Offshore Chinese Yuan (also Offshore Renminbi, Offshore RMB or CNH).

TrueUSD, an issuer of a new stablecoin, is the second fintech heavyweight to release a stablecoin project pegged to the Chinese currency. Is this a stablecoin trend to watch in 2023?

Offshore Chinese Yuan stablecoin TCNH launches on Tron (TRX) According to the official statement by TrueUSD, the stablecoin team behind the multi-blockchain overcollateralized

U.S. Dollar-pegged stablecoin TUSD, its new project goes live on Tron (TRX) blockchain. TCNH stablecoin is pegged to the Offshore Chinese Yuan (CNH), an offshore "version" of the Chinese Yuan (renminbi), a top global reserve currency.

As per the data shared in public blockchain explorers, the token was minted today, on Dec. 15, 2022, at about 7:00 a.m. (UTC).

The team claims that the new project is 100% safe and transparent as all of its assets are backed by fiat Offshore Chinese Yuans. Its contracts have already been audited by a top cybersecurity company.

Its stability is also guaranteed by a TrueUSD vault that adheres to "the optimal allocation of diversified assets in the world" in order to protect the peg of assets it maintains.