Home›Crypto›Market Structure›China sees 43-fold rise in P2P stablecoin wallet activ…

China sees 43-fold rise in P2P stablecoin wallet activity

Chainalysis data shows China recorded $104.1 billion across 18.1 million P2P stablecoin transfers between July 2025 and June 2026.

Reported · Written up by our desk · Market Structure

Cointelegraph reports that China’s peer-to-peer stablecoin activity has surged despite ongoing bans, with the number of unique wallets sending P2P stablecoin transactions rising 43 times from Q1 2024 to Q2 2026.

According to Chainalysis data cited by Cointelegraph, the 2026 reporting period, which ran from July 2025 to June 2026, included $104.1 billion across 18.1 million transfers tied to China’s self-custodied stablecoin holdings.

Cointelegraph also notes that stablecoin holdings in China turned over 33.2 times per year, which is more than three times the global average turnover rate of 9.3, as Chainalysis said.

More like this

Sources