KuCoin and Circle back Chinese yuan-pegged stablecoin in $10M round

Circle Ventures, the venture arm of the USDC issuer Circle, has invested in an offshore Chinese yuan-backed stablecoin project, CNHC.

CNHC’s latest funding round totals $10 million and was led by KuCoin Ventures, the investment arm of the fourth biggest crypto exchange in the world. IDG Capital and Circle Ventures were participating investors.

Read more: TechCrunch