Crypto needs a use case. Otherwise it fails to replace the cash. It managed to do a lot of digital footprint and has slowly started replacing the small change in the shops. But now it needs regular and consistent utility in our everyday life.
Most of the crypto marketers that are out there trying to bring use case for their chain. Which applies even for the stablecoin. Like if they get accepted easily through the mobile apps, then the use case is successful otherwise it just gets difficult for the crypto to stay relevant.
Stablecoins are struggling a lot because CBDCs are their direct competitor in the blockchain market. And so they are trying to bring variety of schemes through which they want to bring more usecase for the coin.
USDC which is owned by the Circle Inc, is bringing in more stores into their use case. This way they want to penetrate into asian markets, african markets and other small nations where they can gain the use case numbers.
Let's talk about how the USDC is being deployed into the Taiwan's store chain.
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Points to Crypto Scheme
Remember the times in 90s when the shops and the malls used to run the points scheme? They used to tempt the people to buy the items which would have specific points allocated to them. And once specific numbers were reached you could redeem it for something.
Crypto companies and the wallets are now employing those schemes to retain the customers to their services. Which is also being used by the stablecoins too. In this context, Circle Inc which is the company behind the USDC coin, they are making use of the points to crypto scheme in the taiwan's stores and payment services.
Partnership with BitoGroup and Taiwan FamilyMart
Circle Inc, had to be partner with the Bitogroup and FamilyMart for the inclusion of the "Points to Crypto" scheme in the FamilyMart and BitoGroup. This would encourage more people to shop and also more people would be busy converting the points into the crypto. Which turns out to be USDC which they can use or again turn cash.
Most likely the people are going to use that USDC to shop again and that would lead to more shopping and that would be more profitable for every shop out there to accept the USDC. In short they are creating a loop which would make the investment easier for the stores and malls. Which is what leads to both sides win-win.
Usecase through Grocery & Delivery Chains
There were many chains in the past who tried to push the use case through shopping malls, small shops, resto and the places where you can pay for everyday usage. In such case you may find that delivery chains are also getting into this. Bitcoin, Lightning network and the BCH were some of the previous chains who pushed such adoption.
Now a days even the stablecoins are getting aggressive to use case and they are making partnership and pushing the schemes which would bring more adoption in the market. When it comes to serious adoption through POS outlet and the QR code based stores, it will only improve the adoption for stablecoins like USDT and USDC.
More local adoption the more digital payments and the stablecoins will be in circulation.
USDC is getting aggressive as there are more players into the stablecoin market. Tether, PYUSD, FDUSD and the USDC are trying to get as many adopters and the users to their chain. This would only bring more value to the coin and the company as usage increases in the stores, malls and the resto. Which is what USDC is testing out through Taiwan's consumer adoption experiment.