361 Degrees eyes stablecoin payments for international growth

361 Degrees International Limited, known as 361°, announced its exploration into stablecoin payment and settlement solutions for sales regions outside mainland China. This initiative aims to cover overseas offline stores, e-commerce sales, supply chain services, and digital ecosystem operations. The company has already opened an account with a third-party service provider specializing in omnichannel digital payment solutions for both fiat and stablecoins.

The move is intended to facilitate seamless and efficient value transfers globally. 361° believes that adopting virtual assets will unlock significant business opportunities, particularly for its cross-border e-commerce and overseas customers who require local payments and cross-border settlements. The company anticipates that stablecoin payment methods will boost payment efficiency, reduce costs, and mitigate exchange rate risks associated with transactions outside mainland China.

Shareholders and potential investors are advised to exercise caution when dealing in the company's shares, and 361° will provide further updates on material developments regarding this initiative.