Bitbase Chief Business Officer Says Digital Economy Still Lacks Consumption Use Cases
BIBIBI
AT A GLANCE
Bitbase’s Chief Business Officer said that stablecoin income already has a foundation, but use for everyday payments remains limited.
Article
Bitbase (BiBei) Chief Business Officer: What the digital economy lacks is not users, but places to spend money
PANews October 8 news, Bitbase (BiBei) Chief Business Officer Nicholas Lo attended HSC Asset Management Singapore’s “Digital Economy Infrastructure” roundtable discussion alongside representatives from Tether, Galaxy Digital, and other institutions. He stated that “earning” has gone on-chain, but “spending” has yet to catch up: a survey shows that 39%of crypto users and potential users already have stablecoin income, but only 27%of stablecoin holders use stablecoins for everyday payments. In his view, whoever fills the consumption gap will retain the funds.
Bitbase (BiBei) Chief Business Officer Nicholas Lo attended HSC Asset Management Singapore’s “Digital Economy Infrastructure” roundtable discussion.
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Representatives from Tether, Galaxy Digital, and other institutions also attended the roundtable discussion.
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Nicholas Lo said that “earning” has gone on-chain, but “spending” has not yet caught up.
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The article states that a survey shows 39%of crypto users and potential users already have stablecoin income.
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The article states that only 27%of stablecoin holders use stablecoins for everyday payments.
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Nicholas Lo believes that filling the consumption link would help retain funds.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This report discusses stablecoin use cases: some people already receive income through stablecoins, but relatively few use stablecoins for everyday consumption. The speaker believes that insufficient payment and consumption use cases remain a gap to be filled in the digital economy.
Why it matters to readers
If stablecoins can be used by more merchants and consumers for everyday payments, their range of use may expand; however, this passage records only an industry view and provides no specific product, partnership, or business data.
Stablecoins are digital assets that typically maintain a relatively stable value against a certain asset. The core issue here is whether people can not only hold stablecoins or receive payments in them, but also conveniently use them to purchase goods and services.
Risks and unknowns
The survey’s publisher, sample scope, survey period, and statistical methodology were not disclosed.
39%and 27%cannot be further confirmed from the original text in terms of their statistical definitions and relationship to each other.
The view presented in the article does not provide data on stablecoin-payment growth, merchant partnerships, or specific products.
The original text does not establish that the consumption link will necessarily retain funds.
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Related concepts
Stablecoin
An asset that seeks to track a reference value and is subject to risks including depegging, reserves, and redemption.
