China Stablecoin P2P Wallets Surge 43x, Chainalysis Finds

China Stablecoin P2P Wallets Surge 43x, Chainalysis Finds

Unique wallets sending P2P stablecoin transactions in China grew 43-fold between Q1 2024 and Q2 2026 as crypto activity increasingly shifted toward direct wallet-to-wallet transfers.

Chainalysis reports 43-fold surge in China's P2P stablecoin wallets

China's P2P stablecoin surge highlights the resilience of decentralized finance, challenging regulatory control and reshaping economic dynamics.

China P2P Stablecoin Wallets Up 43x: $104.1B in 12 Months

The number of unique wallets sending peer-to-peer stablecoin transactions in China increased 43-fold between the first quarter of 2024 and the second quarter of 2026, according to Chainalysis, showing rapid growth in direct wallet-to-wallet activity despite the country's continuing restrictions on cryptocurrency trading. Chainalysis recorded $104.1 billion across 18.1 million transfers involving self-custodied stablecoin holdings during the 12 m…

China P2P Stablecoin Wallets Jump 43x Despite Crypto Curbs, Says Chainalysis

China’s restricted stance on cryptocurrency trading has not stopped stablecoin use from expanding, according to a new analysis by blockchain analytics firm Chainalysis. In its latest report, the company says the number of unique wallets sending peer-to-peer (P2P) stablecoin transactions in China surged dramatically from the first quarter of 2024 to the second quarter of [...]

East Asia’s $1.2T Crypto Economy Splits Between Retail and Institutions: Chainalysis

TLDR: South Korea led East Asia with a $449.1B crypto economy and strong AI-token trading. Hong Kong’s institutional platforms captured 16% of service inflows during 2026. Japan’s DEX market share reached 34.5%, led by growing retail participation. China’s unique stablecoin P2P wallets grew 43x between Q1 2024 and Q2 2026. East Asia’s crypto economy exceeded [...]