361 degrees: Exploring solutions for payment and settlement using stablecoins

According to BlockBeats, on September 12, Hong Kong-listed company 361 Degrees (01361.HK) announced that the company is recently exploring solutions for using stablecoin payment and settlement for the Group's product sales outside mainland China, covering overseas offline stores, e-commerce sales, supply chain services and digital ecological businesses. 361 Degree has opened an account with an independent third-party service provider who is deeply engaged in omni-channel digital payment solutions for fiat currencies and stablecoins, helping companies achieve efficient and seamless value flow worldwide. The global business community is increasingly accepting cryptocurrencies. The Group believes that integrating virtual assets will create significant business opportunities. 361 Degrees serves many cross-border e-commerce and overseas offline store customers, who have an ongoing demand for local payments and cross-border settlement. The adoption of stablecoin payment method can improve payment efficiency and reduce costs, thereby better meeting the needs of cross-border e-commerce customers. It is expected that this payment method will also help reduce the exchange rate risks faced by the Group when trading with customers outside mainland China.