Sportswear maker explores use of stablecoins for overseas payments 

Chinese sportswear maker 361 Degrees International (1361) said that it is currently exploring solutions for using stablecoins to handle payments and settlements for product sales outside mainland China. 

The initiative covers overseas offline stores, e-commerce sales, supply chain services, and digital ecosystem operations.

The group noted that it has already opened an account with an independent third-party service provider specializing in full-channel digital payment solutions for both fiat currencies and stablecoins.

It said that it serves numerous cross-border e-commerce and overseas offline store customers, who have ongoing needs for local payment and cross-border settlement services. The company believes that adopting stablecoin-based solutions could enhance efficiency and meet these demands effectively.