Yiwu local association responds to stablecoin settlement: Almost none, low recognition and difficult to form widespread circulation
By: odaily.com|2025/07/08 12:27:11
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Odaily News Recently, there have been market reports that Yiwu has accepted stablecoins to pay for foreign trade goods. In further research, the reporter of Daily Economic News captured two completely different voices. One voice believes that the use of stablecoins has become common in Yiwu, and some merchants may be cautious and unwilling to disclose too much information. Another voice believes that it is not ruled out that some Yiwu merchants are willing to accept stablecoin payments, but the proportion of such merchants is very low, far from reaching the level of universal.
A person from a relevant 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 kind of private cryptocurrency without actual endorsement has low recognition and is difficult to form a wide circulation.
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