China’s P2P Stablecoin Wallet Grows 43x Despite Crypto Restrictions: Chainlysis
The number of unique wallets sending peer-to-peer (P2P) stablecoin transactions in China increased 43 times between the first quarter of 2024 and the second quarter of 2026, according to Chainanalysis.
The blockchain analytics company recorded $104.1 billion across 18.1 million transfers involving China’s self-regulated stablecoin holdings in the 2026 reporting period, which runs from July 2025 to June 2026.
Stablecoin holdings turn over 33.2 times per year, more than three times the global average of 9.3, a pattern Chainanalysis says is consistent with users treating stablecoins as working capital.
A new report by Chainalysis estimates that China’s crypto economy is worth at least $176 billion. Domestic P2P activity accounted for 59.1% of the total, 3.5 times that in the 2025 reporting period.
China’s domestic stablecoin transfers added $4.9 billion in March 2026, the largest monthly increase seen. Source: Chainanalysis
Korea
South Korea is East Asia’s largest crypto-economy despite a 78% drop in exchange profits
Chainanalysis ranks South Korea as East Asia’s largest crypto economy at $449.1 billion. Activity increased 12.3% from last year to June 2026, with retail traders showing a strong preference for AI-connected tokens.
However, the first half of 2026 has not been kind to South Korean crypto exchanges, with operating profits falling by 78% as trading activity, market valuations and customer deposits decline.
Korea Financial Intelligence Unit (KoFIU) said Average daily trading volume on domestic virtual asset exchanges fell 44% compared to the previous six months, while market capitalization fell 33% and winning deposits fell 35%. Exchange sales fell 41% during the same period, even as the number of accounts eligible to trade rose slightly by 0.4%.
Securities stocks jump 8% amid South Korea’s tokenization push
Shares of tokenization platform Securities rose sharply on Tuesday after it announced a partnership with South Korean tech company LG CNS.
Securitize and LG CNS signed A Memorandum of Understanding to develop tokenized assets and digital asset infrastructure for South Korean financial institutions.
The partnership gives Securitis an early foothold in South Korea as the country prepares to implement a new framework for tokenized securities. Last week, the country’s Financial Services Commission Recommended Rules governing the issuance and circulation of tokenized stocks, bonds, funds and other securities, the framework will come into effect in February 2027.
Singapore
Standard Chartered Plans Institutional Crypto Custody in Singapore
London-headquartered multinational bank Standard Chartered has announced plans to launch a digital asset custody service for institutional clients in Singapore.
The firm will custodian select cryptocurrencies, stablecoins and tokenized real-world assets for institutional clients and corporate clients who qualify as accredited investors.
Standard Chartered said Singapore’s role as a “leading financial and innovation hub” is an important part of its “global strategy”.
Independent Reserves offer cross border payments, subsidiary derivatives trading
Singapore-licensed crypto exchange Independent Reserve has been added Cross border payment tools enable businesses to make fiat and stablecoin payouts. Accounts can be funded in Singapore or US dollars to pay suppliers or employees in more than 20 currencies. USDC and USDT are also options.
The exchange has just launched crypto derivatives trading for sophisticated investors through a subsidiary. ReserveX.
Payword partners with Singapore Gulf Bank for crypto settlement
Payword, the parent company of Kraken, and Singapore Gulf Bank have announced a partnership to enable round-the-clock institutional crypto settlement.
Cointlegraph’s Longitude event in Singapore this week. Source: Cointelegraph
Hong Kong
Hong Kong officials double down on end-2026 deadline for crypto licensing bill
The Hong Kong government has reaffirmed plans to submit an amendment bill before the end of 2026 to establish a licensing regime for digital asset trading, custody, advisory and management services as part of its comprehensive crypto licensing bill.
Financial Services and Hong Kong’s Treasury Secretary Christopher Hui said at a policy briefing on Monday that the government would introduce an amendment bill “later this year” to establish a comprehensive framework for digital asset activities. statement Released by the Hong Kong government.
Hong Kong tops the East Asia region for institutional activity
Hong Kong has emerged in Chainanalysis’ Geography of Cryptocurrencies report for institutional activity. The data firm said institutional platforms accounted for 16% of service flows, nearly three times the share of any regional neighbor. The city received about $24 billion in domestic business inflows. Hong Kong issued the wire First stablecoin license in April.
Japan
Japanese DEX usage to grow 200% from 2022
The Chainanalysis report found that in Japan, decentralized exchanges (DEXs) account for nearly 35% of service activity, the highest share among mature East Asian markets. Chainanalysis stated that 65.7% of DEX swaps were between $10 and $1,000, and that DEX activity has increased by more than 200% since 2022.
Japanese lawmakers Amendment passed in July Which brings digital assets under the financial-market structure of the country.
Japan adds Guarantex to Russia sanctions list over Ukraine war
The Japanese government has added Russian cryptocurrency exchange Garantex to an extended list of sanctions against Russia, citing the ongoing war in Ukraine.
Officials have added 33 companies and nine individuals linked to Russia to its asset-freezing list that restricts payments and capital transactions with targeted parties, according to a Joint statement issued by Japan’s Ministry of Foreign Affairs, Ministry of Finance and Ministry of Economy, Trade and Industry on Friday.
Garantex was previously authorized by the US, EU and other jurisdictions to help Russian companies avoid financial sanctions.
India
India-based scam targets US seniors via Bitcoin ATMs
India’s Central Bureau of Investigation (CBI) has arrested four people in connection with an international technology assistance fraud and extortion racket targeting US citizens. The scam used fake computer pop-ups displaying toll-free “Microsoft” numbers. Victims who called were told their computers had been compromised, or involved in illegal activities such as child pornography, as part of a scheme to extort money from them. A Florida resident lost $440,000 to scammers.
Thailand
Metspace attack forces victim to transfer $820K in crypto
Three armed attackers robbery A house in Bang Lamung forced a foreign resident to transfer $820,000 worth of crypto. They also took cash and three Rolex watches. The police believe that the robbers may be Chinese nationals.
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