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About Chinese Yuan
The renminbi is the official currency of the People's Republic of China. It is the world's 5th most traded currency as of April 2022.
The yuan is the basic unit of the renminbi, but the word is also used to refer to the Chinese currency generally, especially in international contexts. One yuan is divided into 10 jiao, and the jiao is further subdivided into 10 fen. The renminbi is issued by the People's Bank of China, the monetary authority of China. WikipediaAbout Tether
Tether is a cryptocurrency stablecoin, launched by the company Tether Limited Inc. in 2014. As of January 2024, Tether's website lists fourteen protocols and blockchains on which Tether has been minted.
Tether has been criticized for a lack of transparency and verifiability of its claimed fiat reserves. In 2021, the company was fined by regulators for only maintaining full reserves during 27.6% of the days in the period from 2016 to 2018 as well as for failing to present audits showing sufficient asset reserves.
It is the largest cryptocurrency in terms of trading volume, commanding 64% of the market share among stablecoins and having surpassed Bitcoin in 2019 to become the most traded cryptocurrency in the world. As of March 2024, Tether had over $100 billion in circulation, leading to concerns about it being a systemic risk for cryptocurrency markets and threatening the stability of wider financial markets.
Tether Limited is owned by the British Virgin Islands-based company iFinex Inc., which also owns the Bitfinex cryptocurrency exchange. Wikipedia