The TrueUSD team has launched a new stablecoin TCHN which is linked to the Offshore Chinese Yuan (CHN). It has a 1:1 ratio. The new stablecoin will be deployed on the Tron blockchain. Users can trade the token, buy or hold it as the token is secure and transparent.
Annabel Gan, TrueUSD’s director of marketing and business development, highlighted that TrueUSD’s products are constantly evolving. She said the company believes that TCHN will further strengthen TrueUSD’s leading position in digital currency infrastructure. It will contribute to their effort of building a trustworthy and decentralized global payment network.
The new stablecoin offers another option for tens of millions of global users at Tron, to obtain, hold and trade the token on the Tron blockchain. Alex de Lorraine, COO, and CFO of Archblock (formerly Trust Token) said that with TCHN, they are able to offer businesses and individuals outside of Mainland Chain the ability to utilize the tokenized version of one of the world’s most important currencies for international payments. Justin Sun, Tron Founder, believes TCHN is a model for compliant and robust offshore stablecoins. He said the launch of the new stablecoin will further enhance TrueUSD’s stablecoin portfolio on major blockchains such as Tron and add to the foundation for future offshore stablecoin offerings.
Moreover, TrueUSD will use TCHN to enhance and boost its mission to digitize fiat currencies and connect the world of cryptocurrency with the existing financial system.