Stablecoins have emerged as a crucial tool for cross-border payments in Yiwu, China, a major global hub for small commodities. According to a research report by Huatai Securities, the use of stablecoins in Yiwu has significantly increased, with blockchain analysis firm Chainalysis estimating that stablecoin transactions in the region surpassed $10 billion as early as 2023. This development highlights the growing role of digital currencies in facilitating international trade in key markets.