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Local Association in Yiwu Responds to Stablecoin Settlement: Rarely Used, Low Acceptance Rate Makes Widespread Circulation Difficult
Summary: Recent market rumors suggest that there have been cases of accepting stablecoin payments for foreign trade goods in Yiwu. However, a reporter from 'National Business Daily' captured two contrasting opinions during further investigation. Some believe that stablecoins are commonly used in Yiwu, but some businesses may be cautious and unwilling to disclose much information. Others ...
Recent market rumors suggest that there have been cases of accepting stablecoin payments for foreign trade goods in Yiwu. However, a reporter from 'National Business Daily' captured two contrasting opinions during further investigation. Some believe that stablecoins are commonly used in Yiwu, but some businesses may be cautious and unwilling to disclose much information. Others believe that while some Yiwu businesses may be willing to accept stablecoin payments, the percentage is very low and far from being 'common'. Local association officials in Yiwu stated, 'Based on our understanding from member units and non-member companies, the use of stablecoin settlement is very rare, if not almost nonexistent. This type of privately endorsed cryptocurrency, lacking practical endorsement, has low acceptance and is difficult to achieve widespread circulation.'
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Link: Local Association in Yiwu Responds to Stablecoin Settlement: Rarely Used, Low Acceptance Rate Makes Widespread Circulation Difficult [Copy]
