Crypto goes abroad, comes back as shopping money: How Indians are using overseas platforms to turn USDT, stablecoins into gift cards to buy groceries, fuel, food, mobile recharges and even gold

The mechanism involves leading fintech and e-commerce platforms incorporated in Sweden, Germany and Singapore. Individuals can use these platforms to obtain gift cards or vouchers, which effectively serve as proxy money, by transferring stablecoins from their private e-wallets to overseas entities.
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