Returning to "payments", from Crypto to TradFi, what is the larger narrative of stablecoins?

Yiwu and USDT, these two seemingly unrelated terms, are now being put into the same context.

As the "World Small Commodity Capital", in the past, Yiwu merchants often had to go through layers of correspondent bank transfers to sell goods to the Middle East, Latin America and Africa, which not only took a long time and cost high, but also often encountered the risk of capital retention.

In recent years, the situation is quietly changing, according to Huatai Securities Research Report, in Yiwu, stablecoins have become one of the important tools for cross-border payments, buyers only need to complete the transfer on their mobile phones, and the funds can arrive in a few minutes, Chainalysis estimates that as early as 2023, the flow of stablecoins on the Yiwu market chain has exceeded 10 billion US dollars.

Although the follow-up survey of the 21st Century Business Herald pointed out that most merchants in Yiwu have not heard...

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