CNHC Group Defaults on Finance Round

CNHC Group Defaults on Finance 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 news report indicates that the stable currency issuer CNHC Group has successfully concluded a $10 million A+ round of financing. It has emerged that the investment round was led by KuCoin Ventures, with Circle and IDG Capital also participating in the funding. According to Joy Cham, co-founder of CNHC, the stable currency token is currently issued on the Ethereum and Conflux blockchains, with a total supply of around 15 million tokens valued at around $2 million. In contrast, Tether’s stable currency CNHT commands a total supply of roughly 20 million tokens.

On the surface, CNHC Group’s successful financing round is great news for the startup, as it signifies investor confidence in the company’s stable currency issuance solutions. However, a more nuanced examination of the report suggests that CNHC Group is actually lagging behind its rivals in this sector.

For instance, the fact that Tether’s stable currency CNHT has a higher total supply of tokens means that it is more valuable as an alternative currency for investors. Furthermore, the fact that CNHC’s stable currency is issued only on two blockchains – Ethereum and Conflux – suggests that the company is largely constrained by the compatibility issues between different blockchain platforms. It is worth noting that other stable currency issuers have looked to issue their tokens on multiple blockchains, such as Binance’s BUSD which is issued on Ethereum, Binance Smart Chain, and Celsius Network.

In addition, the report does not provide any context regarding the terms of the financing round, such as the interest rate for the investors or the duration of the loan. This suggests that CNHC Group may have had to accept unfavorable terms in order to secure the funding they required.

In summary, the report is a mixed bag of news for CNHC Group. On the one hand, they managed to secure a large funding round from reputable investors. On the other hand, they have a lower total token supply than other stable currency issuers and face challenges with compatibility across multiple blockchains. These challenges could affect the long-term viability of CNHC’s business and could jeopardize their ability to compete with other firms in the stable currency issuance sector.

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