STABLECOINS | Chinese P2P Stablecoin Wallets Surge Over 40x in 2 Years Despite Crypto Restrictions
Photo: Pixabay (illustration)
China’s peer-to-peer stablecoin activity has expanded sharply despite the country’s restrictions on cryptocurrency trading while South Korea has emerged as East Asia’s largest crypto economy, according to blockchain analytics firm, Chainalysis. The number of unique wallets sending peer-to-peer stablecoin transactions in China rose 43-fold between the first quarter of 2024 and the second quarter of 2026, Chainalysis data showed. The firm recorded $104.1 billion across 18.1 million transfers involving China’s self-custodied stablecoin holdings during the 12 months to June 2026.
Source: BitKE
