Yiwu local association responds to stablecoin settlement: almost none, low recognition, difficult to form widespread circulation

Odaily Planet Daily News: Recently, there have been market reports that Yiwu has accepted stablecoin payments for foreign trade goods. Daily Economic News reporters have captured two completely different voices in further research. One voice believes that the use of stablecoins in Yiwu has become widespread, and some merchants may be cautious and unwilling to disclose too much information. Another perspective suggests that it cannot be ruled out that some Yiwu merchants are willing to accept stablecoin payments, but the proportion of such merchants is very low and far from reaching a "universal" level. A representative from a local association in Yiwu said, "According to our understanding, there are not many member units and non member enterprise friends who use stablecoins for settlement, or almost none. This type of private cryptocurrency, which lacks actual endorsement, is already not highly recognized and difficult to form widespread circulation