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CNHC Group Raises 10 Million USD in Financing Round

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CNHC Group Raises 10 Million USD in Financing Round

According to reports, the stable currency issuer CNHC Group completed a US $10 million A+round of financing. KuCoin Ventures led the investment, with other investors including Circle and IDG Capital. According to CNHC co founder Joy Cham, it is currently issued on the Ethereum and Conflux blockchains, with a total supply of approximately 15 million tokens (worth approximately $2 million). Tether’s CNHT currently has a total supply of approximately 20 million tokens.

Stable currency issuer CNHC Group completed a US $10 million A+round financing

Analysis based on this information:


The CNHC Group has reportedly completed a financing round of 10 million USD, led by KuCoin Ventures with Circle and IDG Capital as other investors. The group offers a stable currency called CNHC, currently issued on Ethereum and Conflux blockchains, with a total supply of 15 million tokens, worth around $2 million.

Stable currencies are digital assets that are pegged to a stable asset like a fiat currency or gold. They offer stability to investors and traders who want to avoid the volatility of cryptocurrencies like Bitcoin. CNHC is a relatively new entrant in the stable currency market, and the financing round will help it expand and promote its adoption.

The CNHC Group’s focus on the Ethereum and Conflux blockchains reflects the growing popularity of these platforms for building decentralized applications and digital assets. Ethereum is the second-largest cryptocurrency by market capitalization, and Conflux is a newer platform that aims to offer faster and more secure transactions. By using these blockchains, CNHC can take advantage of their robust infrastructure and growing user bases.

Another interesting aspect of this news is the comparison with Tether’s CNHT. Tether is currently the dominant player in the stable currency market, with over $60 billion in market capitalization. CNHT is Tether’s version of a stable coin pegged to the Chinese yuan. While CNHT has a larger supply of tokens than CNHC, the latter’s recent financing round shows that there is demand for alternative stable currencies that can offer more transparency and security.

In conclusion, CNHC’s financing round signals a growing interest in stable currencies and the potential of blockchain-based digital assets. As more investors and traders seek stability and reliability in their investments, stable coins like CNHC and CNHT could play an increasingly important role in the crypto ecosystem. At the same time, the adoption of Ethereum and Conflux blockchains will continue to shape the development of new applications and digital assets in the future.

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