Tether to Issue New Stablecoin ‘CNHT’, Pegged to Offshore Chinese Yuan

Stablecoin issuer Tether is going to issue a new stablecoin, dubbed “CNHT,” pegged to offshore Chinese yuan (CNH).

Zhao Dong, a shareholder of Tether’s sister company Bitfinex, has said on Wednesday that CNHT will be launched “in the near future”, while cryptocurrency lending platform RenrenBit will be the first one to invest in the upcoming stablecoin.

CHNT will be the fourth stablecoin to Tether’s basket, in addition to three existing stablecoins pegged to the U.S. dollar (USDT), euro (EURT) and the Japanese yen (JPYT). (Neutral)

NASDAQ Adds Ripple’s XRP to Its New Index on Recently Launched Website

On Friday last week, the world’s biggest stock exchange NASDAQ added Ripple’s digital coin XRP to its new index on a recently built website new.nasdaq.com., as the 3d biggest crypto asset is becoming more popular with institutional investors around the world.

Back in the spring, NASDAQ spread the word about its intentions to add XRP to its crypto asset index in the future, however, their plans suddenly changed and the thing was done on August 16. Now, XRP is officially part of the new NASDAQ market index.

Prior to that, the platform added XRP Liquid Index (XRPLX) to its service working with global financial data.

The announcement stated that this was part of NASDAQ’s cooperation with Brave New Coin, an analytical company that works in the cryptocurrency field. Brave New Coin was intending to send the data on its real-time XRP index to the global index data service run by NASDAQ (GIDS). (Positive)

IOTA Breaks into Retail Adoption with German Parking App

Trive.Park, an app from German company Trive.Me, is using IOTA’s Tangle in order to facilitate the booking and payment for parking spaces. With the demand for parking skyrocketing, motorists can now book a parking space and reserve it in advance. As per a report from EDAG Engineering, August 20, 2019, customers would pay for it and communicate with the garage over the Tangle, allowing it to be done in just a few taps over the phone.

Ledgers like IOTA that hinge their network security model on growth in adoption and transactions may look to expand their network through business partnerships and corporate use cases. But increasing the number of transactions processed over the networks required retail participation as well.

While businesses may contribute more transactions per user, retail users are larger in number, hence the importance given to both should be relatively equal.

The Trive.Park app will allow parking garage owners to digitize their asset and monetize through an online reservation system.

Trive’s Head of Product, Alexander Süssemilch, believes that IOTA is the best fit because the network has the ability to process the required microtransactions with virtually no fee.

The company believes that technology like IOTA that can rapidly disrupt the mobility industry will allow customers to experience a new level of efficiency for a fraction of the cost. (Positive)

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