Almost every month, Zhang travels from the Futian district of Shenzhen to a mall populated with fast-food joints and some empty shops in Hong Kong’s business district to purchase crypto.
On a trip in June, the 27-year-old — whose daily work includes “a bit of whatever makes money” — exchanged cash for about Rmb10,000-Rmb20,000 ($1,380-2,760) worth of USDT, a stablecoin pegged to the US dollar.
Zhang, who declined to give his full name over sensitivity about crypto trading on the mainland, said having digital currencies was useful for “transferring money to other places”, adding he would make the 90-minute cross-border trip “whenever there’s a need”.
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