CNHC Group Completes $10 Million Funding Round Led by KuCoin Ventures with Other Investors

03/15/2023 10:05 • Blockchain Briefs • 82 views

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:

CNHC Group, the issuer of a stable currency, has successfully completed a funding round led by KuCoin Ventures. The funding round reportedly raised around US $10 million, with other investors such as Circle and IDG Capital also participating. The company’s co-founder, Joy Cham, revealed that the stable currency is currently issued on both the Ethereum and Conflux blockchains. The company has a total supply of around 15 million tokens, with each token reportedly worth around $0.13. This puts the total value of CNHC tokens at approximately $2 million.

While CNHC’s total supply of tokens is much smaller than Tether’s CNHT, which has a supply of around 20 million tokens, CNHC has gained significant support from reputable investors in the industry. This is a clear indication of the growing demand for stable currencies in the market because they offer stability to traders’ portfolios when the market is volatile.

CNHC is a significant addition to the market, and it’s vital that the stable currency issuer has sufficient funding to remain sustainable long-term. The funding raised in this round puts the company in a better position to achieve its objectives and continue contributing to the stability of the market.

The involvement of Circle and IDG Capital in CNHC’s funding round is noteworthy, as both companies are well-respected and established players in the cryptocurrency and blockchain industry. Circle is a stable currency issuer that has been quite successful in the market, while IDG Capital is a leading investment firm that has invested in several blockchain-based projects, including the likes of Coinbase, Circle, and Bitmain.

In conclusion, the funding will be crucial in powering CNHC’s operations and increasing its market penetration. The support from reputable investors in the industry is a clear indication that stable currencies are gradually gaining wider adoption, and this is only likely to continue as the crypto industry continues to mature.

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CNHC Group Completes $10 Million Funding Round Led by KuCoin Ventures with Other Investors

Stable currency issuer CNHC Group completed a US $10 million A+round financing

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