CNY
Explore CNY-backed stablecoins: digital tokens pegged to the Chinese Yuan's value.
Token | Price | 1d % ▲▼ | 1w % ▲▼ | 1m % ▲▼ | Market Cap ▲▼ | Volume 24h ▲▼ | Score ▲▼ | Category | Holders ▲▼ | Entropy ▲▼ | Mc/Rev ▲▼ |
|---|---|---|---|---|---|---|---|---|---|---|---|
Chinese YuanYuan | $0.001205 | 0.0% | 361.3% | 361.3% | $0 | $0 | 40.49 | 2,083 | 0.4584 | 0 | |
元¥ CYN YUAN ₮元¥₮ | $0.05628 | 0.0% | 398.8% | 398.8% | $62,836 | $0 | 38.66 | 1,080 | 0.4307 | – | |
PetroYuanPTY | $0.0001542 | 0.0% | 405.5% | 405.5% | $154,153 | $0 | 38.01 | 1,965 | 0.3036 | – | |
Chinese YuanYuan | $0.0008284 | 0.0% | 476.7% | 476.7% | $0 | $0 | 36.69 | 547 | 0.3885 | 0 | |
人民币元 | $0.0005089 | 0.0% | 107.9% | 107.9% | $0 | $0 | 34.74 | 1,001 | 0.3333 | 0 |
Frequently asked questions
What are CNY-backed stablecoins?
CNY-backed stablecoins are a type of cryptocurrency designed to maintain a stable value relative to the Chinese Yuan (CNY). Each token is typically pegged to the value of one CNY, and its stability is maintained by holding an equivalent reserve of CNY or CNY-denominated assets.
How do CNY-backed stablecoins work?
CNY-backed stablecoins operate by maintaining reserves of the Chinese Yuan, or assets denominated in CNY, that are equal to or greater than the number of tokens in circulation. This backing ensures that the stablecoin's value remains closely tied to the CNY, providing a stable digital asset.
What are the benefits of using CNY-backed stablecoins?
The benefits of using CNY-backed stablecoins include price stability compared to volatile cryptocurrencies, enabling easier international remittances, facilitating trading in decentralized finance (DeFi) with a familiar fiat peg, and potentially offering a digital representation of the Chinese Yuan for various transactions.
Are CNY-backed stablecoins regulated?
The regulatory landscape for CNY-backed stablecoins can be complex and varies by jurisdiction. Issuers of stablecoins may be subject to regulations related to financial services, anti-money laundering (AML), and know-your-customer (KYC) compliance, depending on where they operate and the specific design of the stablecoin.