The sportswear brand plans to use fiat-pegged stablecoins for cross-border payments
The Xiamen-based company said in a Hong Kong stock exchange filing on Thursday that it planned to use stablecoins in transactions outside mainland China, covering offline stores, e-commerce sales, supply chain services and digital ecosystem operations.
Stablecoins – digital tokens backed by fiat currencies such as the US dollar – can serve as an alternative to cash, helping to improve payment efficiency, cut costs and reduce exchange-rate risks.
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