To ensure the safety and success of fiat redemptions, users must complete an Initialization step after passing KYC and bank account verification. This process confirms that your verified bank account can correctly receive CNH (offshore RMB) before redemptions are enabled.

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⚠️ Why Is Initialization Required?

Some users may add bank accounts that, despite appearing valid, cannot actually receive CNH transfers due to local restrictions or intermediary bank issues.
To avoid failed settlements, CNHO requires a real test transaction in the form of an initial CNHO acquiring.

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✅ What You Need Before Initialization

You must first:
  1. Complete KYC Verification
  2. Add and Verify a Bank Account that supports CNH
Only then can you proceed with Initialization.

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💰 Step-by-Step: Complete Initialization via CNHO Acquiring

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Step 1: Prepare a Minimum Acquiring Amount

  • You must acquire at least 100,000 CNH (offshore RMB)
  • This confirms your account can both send and receive CNH

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Step 2: Follow the CNHO Acquiring Procedure

  • Please follow the official CNHO-CNH Acquiring Guide.
This includes:
  • Generating a unique deposit instruction
  • Sending the CNH transfer from your verified bank account
  • Receiving CNHO tokens into your wallet
⏳ Typical processing time: 1–2 business days

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✅ After Successful Initialization

Once your first CNHO acquiring is completed:
  • 🎉 Redemption Functionality Will Be Unlocked
  • You will be able to:
    • Convert CNHO back to fiat CNH
    • Use your verified bank account for full on/off-ramp

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🛡️ Important Notes

  • Initialization only needs to be done once per user, not per bank account
  • The minimum of 100,000 CNH is mandatory for unlocking redemptions
  • If the transfer fails or is returned, you will need to use a different bank account that supports CNH