KuCoin Ventures Leads $10M Investment in Stablecoin Issuer CNHC

$10 million is invested in stablecoin issuer CNHC by KuCoin Ventures.

KuCoin Ventures has invested $10 million in stablecoin issuer CNHC, which provides a Chinese yuan-pegged stablecoin and blockchain-based payment services. The funding round also included investors IDG Capital and Circle Ventures. This marks KuCoin Ventures' first investment in a stablecoin-related project and reflects its strategy of supporting Web3 infrastructure in the Asia-Pacific region. KuCoin Chief Investment Officer Justin Chou stated that Hong Kong has the potential to become the new crypto centre of the world with its supportive policies for digital assets.