Metro in Singapore Starts Accepting Stablecoins
Date: 2025-02-27 Author: Gabriel Deangelo Categories: IN WORLD
Singapore department store chain Metro has announced a partnership with DTCPAY, a company specializing in processing cryptocurrency transactions. Now, customers can pay for purchases both online and in-store using stablecoins USDT from Tether, USDC from Circle, and WUSD from the Worldwide Stablecoin Payment Network. Support for the First Digital Dollar (FDUSD) is planned to be added soon.
Metro CEO Erwin Vuisang-Oei emphasized that the partnership with DTCPAY opens up new opportunities for the chain:
"We are not just following future trends, we are actively shaping them. This is an important step for Metro, and we are proud to be the first in the industry to introduce digital assets into the daily lives of our customers."
The popularity of cryptocurrencies in Singapore continues to grow, with residents increasingly using digital assets not only for investment but also for everyday purchases. Financial analysts note that after Donald Trump's victory in the 2024 US presidential election, investors have become more active in investing in the cryptocurrency market.
In addition, Singapore is ahead of many other countries, including Hong Kong, in terms of digital asset adoption. In 2024, the country's Monetary Authority issued 13 cryptocurrency licenses, which is twice the number in 2023.
