Tether announces the discontinuation of its offshore RMB-pegged stablecoin CNHT due to lack of market acceptance. This is part of its strategic adjustment to focus resources on products with higher endogenous adoption. Existing holders must complete redemptions by 2027.

Foresight News reports that Tether has announced it will cease issuing the offshore RMB stablecoin CNHT effective immediately, and will stop supporting redemptions for CNHT one year after the announcement. Tether stated that consumer interest in the product is low, the community demand for CNHT is limited, and its usage level is insufficient to support the operational standards required for all products under Tether.