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

Recently, there have been market rumors that Yiwu has cases of accepting stablecoin payments for foreign trade goods. In further research, reporters from "Daily Economic News" captured two completely different voices. One voice believes that the use of stablecoins in Yiwu has become common, and some merchants may be cautious and unwilling to disclose too much information. The other voice believes that while some Yiwu merchants may be willing to accept stablecoin payments, the proportion of such merchants is very low and far from being "common."

Relevant local association personnel in Yiwu stated: "Based on our understanding of member units and non-member business friends, there are indeed very few who use stablecoins for settlement, or almost none. This type of privately owned cryptocurrency, which lacks actual endorsement, inherently has low recognition and is also difficult to form widespread circulation."$XRP