Recently, the USDC exchange rate dropped to around 6.9. Many people say it's related to issues with a certain payment platform, and with the market not doing well, you can feel funds are moving out.

I tried a relatively safe cash-out route to see what the actual exchange rate would be—sending coins from an overseas exchange to a compliant payment tool, then transferring to a domestic account. In practice, 10,010 stablecoins ended up as 70,770 received, which is indeed a better rate than direct order trades.

The whole process: first, transfer the coins to a platform supporting fiat channels, then use an intermediary payment layer for the transfer, and finally land the funds with a commonly used receiving method. Although it involves a few extra steps, it avoids the risks that can come with direct trading, and the exchange rate loss is within an acceptable range.

For non-large amounts, this route is still reliable, just a bit more complicated to operate. In the current market, safety might be more important than speed.