Chinese NuBits (CNNBT) revenue will pool with all shareholder funds


#1

A policy change has occurred since last year regarding Chinese NuBits. CNNBT revenue was going to be held in a segregated reserve. That is no longer the case, and CNNBT revenue will be pooled with the rest of shareholder funds to be used for backing of every issued currency (currently USNBT and CNNBT).

~800K CNNBT are in circulation, and SouthXchange is excited to start off with listing CNNBT.

Chinese NuBits are pegged to the yuan at ¥1.00.


#2

who will use this? even i am a chinese guy…


#3

bitCNY has a market cap of $53 million USD with trade volume of $1.5 billion USD in the last month. Both figures are around seven times that for bitUSD. This suggests not only is there a market, but that it is much larger potentially than the USNBT market.


#4

but we don’t have market that accept CNNBT, even USNBT:disappointed_relieved:


#5

Built it and they will come :wink:


#6

Until Chinese yuan crashes, it will crash in future, perhaps several years later.:grinning:


#7

We would never wish misfortune on our customers or anyone else, but when the target of one of our pegged currencies loses value, it reduces Nu’s liabilities. A yuan devaluation would be very much to Nu’s advantage.