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According to a report by Shenchao TechFlow on July 8, an on-site investigation by the 21st Century Business Herald found that the use of stablecoins in Yiwu International Trade City is far less than the scale rumored in the market. The reporter discovered that most merchants stated they do not understand stablecoins, and only a few merchants support stablecoin payments. Some merchants also raised questions about its Compliance, costs, and other aspects.
Previously, the market rumored that Yiwu has "over 3,000 merchants using USDT and other stablecoins for payments, with monthly transactions exceeding $1 billion."