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Date: 2025-02-26 09:40:14
The department store chain Metro, based in Singapore, will give its customers the option to make payments using stablecoins in both their physical stores and online at Metro Mall.
As reported by a local source, the Metro department store in Singapore has partnered with Singaporean cryptocurrency payments firm DTCPAY to facilitate stablecoin payments using assets such as Tether’s USDT, Circle’s USDC, and Worldwide Stablecoin Payment Network’s WUSD. They also plan to support payments using the First Digital Dollar Stablecoin (FDUSD) in the near future.
Erwin Wuysang-Oei, the COO of Metro, described the collaboration as a move towards adapting to the changing retail landscape. He emphasized that by accepting stablecoin payments, Metro is “not only embracing the future but shaping it.”
Wuysang-Oei added, “This is a pivotal moment for Metro, and we are thrilled to lead the industry in making digital assets a practical everyday reality for our customers.”
This recent collaboration comes after DTCPAY’s decision to exclusively use stablecoins for payments starting in 2025, dropping Bitcoin (BTC) and Ethereum (ETH) earlier in January. At the time, the company stated that the decision would provide a “more dependable, scalable, and secure payment experience.”
Cryptocurrency has become increasingly popular among Singaporeans, who are incorporating digital assets into their daily lives and investments.
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As previously reported by crypto.news, Singaporean wealth managers have been allocating larger portions of their portfolios to digital assets, especially since President Donald Trump’s victory in the 2024 U.S. elections.
At the time, Gerald Goh, CEO of Sygnum Bank, said locals were “more optimistic about including crypto investments as part of their investment portfolios.”
Singapore has also surpassed other jurisdictions, such as Hong Kong, in terms of cryptocurrency adoption. Throughout 2024, the Monetary Authority of Singapore granted 13 new crypto licenses, doubling the numbers recorded the previous year. In contrast, Hong Kong fell behind due to a highly restrictive regulatory framework.
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