Metro is now accepting stablecoins, including USDT, USDC, WUSD, and FDUSD. Singapore’s crypto-friendly rules promote stablecoin adoption. Singapore’s top department store chain Metro has joined forces with local crypto payments company DTCPAY to launch stablecoin payments in its offline stores and online shopping mall, Metro Mall. Tether’s USDT, Circle’s USDC, Worldwide Stablecoin Payment Network’s WUSD, and First Digital Dollar’s FDUSD can be used to make payments. The shift will increase the domain of crypto payments for merchants. Unlike highly fluctuating cryptocurrencies like Bitcoin or Ethereum, stablecoins are pegged to an asset, hence suitable for regular transactions. With the use of stablecoins, Metro aims to offer consumers a smooth and secure payment process. It also hopes to
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- Metro is now accepting stablecoins, including USDT, USDC, WUSD, and FDUSD.
- Singapore’s crypto-friendly rules promote stablecoin adoption.
Singapore’s top department store chain Metro has joined forces with local crypto payments company DTCPAY to launch stablecoin payments in its offline stores and online shopping mall, Metro Mall. Tether’s USDT, Circle’s USDC, Worldwide Stablecoin Payment Network’s WUSD, and First Digital Dollar’s FDUSD can be used to make payments. The shift will increase the domain of crypto payments for merchants.
Unlike highly fluctuating cryptocurrencies like Bitcoin or Ethereum, stablecoins are pegged to an asset, hence suitable for regular transactions. With the use of stablecoins, Metro aims to offer consumers a smooth and secure payment process. It also hopes to place itself at the forefront of the changing retail landscape.
Metro Expands Payment Options With Stablecoins in Singapore
Metro Chief Operating Officer Erwin Wuysang-Oei noted the firm’s push toward innovation as it explores the inclusion of stablecoin payments as a breakthrough in line with the trajectory of digital commerce in the future. He pointed out that Metro is not only following new trends but also spearheading the use of digital assets by the retail sector. Metro is taking the lead in integrating digital assets into retail.
The program aims to spur stablecoin adoption in Singapore, where growth has already accelerated rapidly. Stablecoin transactions in the nation almost hit $1 billion in the second quarter of 2024 alone. Chainalysis, a blockchain analytics company, reported this data.
Singapore’s open regulation has been driving the efficient deployment of cryptocurrencies. Legal certainty under the Payment Services Act 2019 has enabled companies to venture into crypto-associated activities by providing clear regulations for Digital Payment Token (DPT) services. This framework has encouraged businesses to explore opportunities in the cryptocurrency sector. By February 3, 2025, Singapore’s Monetary Authority of Singapore (MAS) had licensed 30 large payment institutions to offer DPT services. These approvals have strengthened Singapore’s position as a hub for international cryptocurrency.
Metro’s action is a steady increase in stablecoin usage in traditional retail and again places Singapore at the forefront of digital payment technology.