Chinese Company Embraces Bitcoin Payments via Coinbase

Nano Labs, a China-based mining chip designer listed on Nasdaq, saw a slight boost in its stock after announcing it will accept Bitcoin as payment via Coinbase.

The company stated this move is part of its strategy to embrace digital currency and enhance payment flexibility, especially as businesses look for secure cross-border transaction solutions.

However, Nano Labs did not clarify whether it will hold the Bitcoin received.

Following the announcement, Nano Labs’ shares rose by 2.81% to $3.29, though they remain down over 60% from a month ago and far from the company’s all-time high of $96.20 in 2022.

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The trend of adopting cryptocurrency as payment is growing, with companies like Microsoft, McDonald’s in El Salvador, and the Dallas Mavericks accepting Bitcoin.

Meanwhile, China’s stance on crypto appears to be shifting, with recent comments from former finance minister Lou Jiwei calling for further exploration of crypto, and courts recognizing Bitcoin’s value. Hong Kong has also approved Bitcoin and Ethereum ETFs this year.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.