Alchemy Pay (ACH) altcoin developers announced that they have partnered with CNHC, an ecosystem of stablecoins pegged to the Offshore Chinese Yuan (CNH).
CNHC Partners with Alchemy Pay (ACH)
As part of this partnership, CNHC will become part of Alchemy Pay's ecosystem and use on-ramp solutions to allow users to buy or sell CNHC using a variety of global fiat currencies.
CNHC will also be listed on Alchemy Pay's platform, allowing CNHC to seamlessly transfer between the traditional finance and cryptocurrency worlds.
CNHC is a stablecoin that claims to have full reserves stored securely in a Singapore-based custodian.
It has been released on both Ethereum and Conflux and serves as an alternative means to hold CNH without the need to create a bank account.
As of April 2023, CNHC's total in-chain circulation stands at $15 Million.
As it is known, the movement to establish a stablecoin system independent of the US dollar dominance has become increasingly imperative, especially with the increasing regulatory scrutiny in the US.
In March 2023, CNHC managed to raise $10 million in funding from KuCoin Ventures, Circle Ventures and IDG Capital. Alchemy Pay will be among the first payments partners to be announced by CNHC and will serve as a gateway in the CNHC ecosystem from fiat to cryptocurrency and vice versa.
CNHC Group is known as a Singapore-based blockchain technology company.
*Not investment advice.