bitCNY (BITCNY)

BitCNY (BITCNY) is a cryptocurrency-backed stablecoin launched by the Bitshares blockchain in July 2015. It was created to provide a more reliable digital asset that holds its value more closely to that of the Chinese yuan (CNY). BitCNY is a decentralized coin, as it is not issued by a government or a central authority, but is backed by cryptocurrency reserves that are held in a multi-sig wallet. Who founded it? BitCNY was created by BitShares, a decentralized asset exchange platform developed and operated by Invictus Innovations, a blockchain-focused company founded in 2013 by Dan Larimer and Charles Hoskinson. What Makes it Unique? BitCNY was designed to be a reliable alternative to fiat currencies like the Chinese yuan, which often experiences volatility due to economic or political events. As a stablecoin, it holds its value more closely to that of the Chinese yuan, providing investor with a stable alternative to traditional fiat currencies. Additionally, BitCNY is not centralized and is not issued by a government or a central authority, making it more secure than other digital assets. Where does it used? BitCNY can be used to securely and quickly transfer funds, including across international borders. It is often used by traders to exchange Chinese yuan in and out of cryptocurrency markets, as well as to make payments, such as remittances or rent payments. Additionally, BitCNY can be used to buy goods and services. Where to buy/sell it? BitCNY can be bought and sold on a variety of cryptocurrency exchanges, including Binance, OKEx, Huobi, and Gate.io. It can also be purchased with local payment options on BitShares DEX. Additionally, users can exchange BitCNY directly with other cryptocurrency users on OpenLedger DEX.