Yiwu stablecoin transaction "1 billion US dollars transaction" investigation: only a few merchants collect

According to 21st Century Business Herald, there have been recent market reports that Yiwu has accepted stablecoin payments for foreign trade goods, making it once again the focus of attention. According to a research report by Huatai Securities, "stablecoins have become an important tool for cross-border payments in Yiwu, China, the world's center for small commodities. Blockchain analysis company Chainalysis estimates that the flow of stablecoins on the chain in the Yiwu market will exceed billions of dollars in 2023. ”Some people have posted online claiming that over 3000 merchants in Yiwu have used stablecoins such as USDT to receive payments, with monthly transactions exceeding 1 billion US dollars, directly saving nearly 10 million RMB in transaction fees! ”To investigate, the reporter went deep into Yiwu and conducted on-site visits and research on the use of stablecoins. When asked if stablecoins can be used for payment, most merchants said they have not heard of stablecoins and are not familiar with them; Some merchants have raised doubts about its compliance, cost, and other aspects; Only a few merchants support stablecoin payments.