PANews July 8 news, according to the Daily Economic News, recent rumors claim that over 3,000 merchants in Yiwu are using USDT and other stablecoins for payments, with monthly transaction volume exceeding $1 billion. However, a field visit to Yiwu International Trade City revealed that the vast majority of merchants stated they 'do not accept, do not understand, and have never heard of' stablecoins, with only a few merchants saying 'we can accept them but do not handle small orders.' The local association also responded that member enterprises hardly use stablecoins for settlement, and lawyers pointed out that stablecoins cannot currently be used for cross-border payments between mainland China and overseas.