China P2P Stablecoin Wallet Use Jumps 43-Fold; Annual Transfers Hit $104.1 Billion
JH Kim
Summary
- Use of P2P stablecoin wallets in China surged 43-fold despite regulatory restrictions.
- Annual stablecoin transfer volume through those wallets reached $104.1 billion.
- The increase came as China continued to maintain cryptocurrency regulations.
Forecast Trend Report by Period
Peer-to-peer stablecoin wallet use in China has surged 43-fold despite the country's cryptocurrency regulations, with annual transfer volume through those wallets reaching $104.1 billion.
Cointelegraph reported on October 5 that the use of P2P stablecoin wallets in China had increased 43-fold.
Annual stablecoin transfers through those wallets were estimated at $104.1 billion.
The rise came even as China maintained regulations on virtual assets.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.