🧭 Stablecoins are forming a parallel payment network in China
Despite China’s strict restrictions on cryptocurrency, its crypto market continues to grow. Chainalysis estimates that the market is worth at least $176 billion.
The use of stablecoins has grown particularly rapidly. The number of wallets transferring stablecoins directly to one another has increased by about 43 times.
This growth has been especially pronounced since March 2025. The number of small transfers has risen sharply:
Under $100: up 996%
$100 to $1,000: up 1,057%
$1,000 to $10,000: up 1,321%
🧩 During the period studied, users in China made about 18.1 million transactions, totaling $104.1 billion.
Meanwhile, the average amount of stablecoins held by users in China was about $3.1 billion. This means these assets turn over approximately 33.2 times a year—significantly higher than the global average.
Most notably, the role of stablecoins is changing. They are no longer used only for cryptocurrency trading and preserving the value of assets. More and more transactions are taking place directly between users’ wallets.
This suggests that stablecoins are gradually becoming an independent financial tool for fast settlement and fund transfers.
Of course, a large volume of on-chain transactions does not mean that all these funds are being used to buy goods and services. They may also include trading, transfers between users’ own wallets, arbitrage, and other fund flows.
Still, this trend is worth watching: even in markets where cryptocurrency is strictly restricted, stablecoins are beginning to serve as part of the payment infrastructure.
For the crypto market as a whole, this is an important signal. If the trend continues, the most important use case for stablecoins in the future may no longer be speculative trading alone.
#Binance #bitcoin
Despite China’s strict restrictions on cryptocurrency, its crypto market continues to grow. Chainalysis estimates that the market is worth at least $176 billion.
The use of stablecoins has grown particularly rapidly. The number of wallets transferring stablecoins directly to one another has increased by about 43 times.
This growth has been especially pronounced since March 2025. The number of small transfers has risen sharply:
Under $100: up 996%
$100 to $1,000: up 1,057%
$1,000 to $10,000: up 1,321%
🧩 During the period studied, users in China made about 18.1 million transactions, totaling $104.1 billion.
Meanwhile, the average amount of stablecoins held by users in China was about $3.1 billion. This means these assets turn over approximately 33.2 times a year—significantly higher than the global average.
Most notably, the role of stablecoins is changing. They are no longer used only for cryptocurrency trading and preserving the value of assets. More and more transactions are taking place directly between users’ wallets.
This suggests that stablecoins are gradually becoming an independent financial tool for fast settlement and fund transfers.
Of course, a large volume of on-chain transactions does not mean that all these funds are being used to buy goods and services. They may also include trading, transfers between users’ own wallets, arbitrage, and other fund flows.
Still, this trend is worth watching: even in markets where cryptocurrency is strictly restricted, stablecoins are beginning to serve as part of the payment infrastructure.
For the crypto market as a whole, this is an important signal. If the trend continues, the most important use case for stablecoins in the future may no longer be speculative trading alone.
#Binance #bitcoin