Key Takeaways:
361 Degrees International Limited, one of China’s largest sportswear brands, has announced plans to test stablecoin-based payment and settlement solutions for its operations outside mainland China. The initiative covers a broad range of business areas, from brick-and-mortar stores to online sales, supply chain management, and digital services.
In a voluntary statement, 361 Degrees said it had opened an account with an independent service provider that specializes in digital payments. This provider offers solutions spanning both fiat currencies and stablecoins, making it possible for the company to handle multi-channel transactions more efficiently.
Stablecoins – digital currencies that are tied to established monies such as the U.S. dollar have become popular in global commerce since they offer quicker settlement speeds, less dependency on conventional banking rails, and they alleviate currency swings. In the case of a company such as 361 Degrees, which serves customers and partners in various markets with growing frequency, the technology would be able to open the door to smoother cross-border business.
Read More: China’s Bitcoin Mining Giants Quietly Shift Production to U.S. Amid Tariffs and Security Heat
The conventional payment systems to the retailers around the world are usually characterized by delays, huge transaction charges, and foreign exchange charges. All of these issues could be solved by stablecoins.
These benefits are of great benefit to e-commerce and supply chain operations. The suppliers across the globe tend to demand prompt payments whereas customers are increasingly demanding frictionless check-outs when shopping online. In testing the settlements of the stablecoins, 361 Degrees stands to serve both sides of the equation better.
It is not 361 Degrees that is the only traditional company trying blockchain-powered payments. Luxury fashion houses and global retailers are also looking at stablecoins as part of broader digital transformation strategies. The attraction is clear: improved efficiency, enhanced transparency, and the chance to appeal to younger, tech-savvy consumers who are more comfortable with digital currencies.
In China and beyond, digital assets are moving from niche finance to mainstream commerce. Stablecoins, in particular, are becoming a bridge between traditional money and blockchain technology. In the case of consumer-facing brands, implementing them may be more of a branding and competitiveness initiative than a cost-savings one.
Other multinationals have started to implement stablecoins in small pilots, and it deals with cross-border settlements. For instance:
These trials point to the fact that digital assets are already not exclusive to fintech startups. Industries, both traditional, shipping included, are tentatively coming in.
361 Degrees’ leadership has emphasized that the current initiative is an exploratory step rather than a permanent shift. The company is monitoring how stablecoin settlements perform in practice and will report updates under Hong Kong Stock Exchange disclosure rules.
Nevertheless, the move depicts an acknowledgement of the rate at which international trade is evolving. Traditional payment systems tend to be behind business requirements with supply chains going across continents and e-commerce taking off. The solution could lie with the stablecoins.
Read More: China Set to Shake Crypto Markets with First-Ever Yuan Stablecoin Plan Amid Dollar Dominance
The 361 Degrees announcement is one more attempt to add to the list of Asian companies experimenting with crypto-powered solutions to cross-border trade. While regulatory landscapes vary. Cryptocurrency transactions in China are highly regulated – the implementation of blockchain technology in the back-end operations such as settlement is gradually picking up at the corporate level.
What matters to investors and other industry observers is not whether 361 Degrees converts into a blockchain-first company, but rather how much it implements digital finance tools into its operations. Even a partial implementation like the introduction of stablecoin payments to international clients would have a tangible effect on effectiveness and competition.
The post Chinese Sportswear Giant 361 Degrees Explores Stablecoin Payments Across Global Markets appeared first on CryptoNinjas.
Also read: XRP Price Prediction: Can XRP Break the $4 Mark as Rex-Osprey Spot XRP ETF Goes Live?
