Sony Electronics Singapore accepts USDC payments through Crypto.com

2 days ago 20

Sony Electronics Singapore has partnered with Crypto.com to alteration USDC payments, a determination that highlights the increasing inclination of stablecoin adoption successful the region.

Sony Electronics Singapore accepts USDC payments done Crypto.com

The online store of a Singapore-based subsidiary of Japanese tech behemoth Sony is present accepting USDC payments done Crypto.com.

According to an April 2 announcement, Sony Electronics Singapore present accepts USDC (USDC) stablecoin payments done an integration with the Crypto.com exchange. Crypto.com Singapore wide manager Chin Tah Ang said:

“We’re pushing to marque paying successful crypto much mainstream and partnering with a well-established and forward-thinking marque similar Sony Electronics Singapore further raises consciousness of however elemental it tin beryllium to wage for mundane goods and services utilizing crypto.”

This is acold from the lone high-profile concern that Crypto.com has been precocious capable to score. At the extremity of 2024, the mobile-first crypto speech partnered with Deutsche Bank to supply firm banking services crossed Asian-Pacific markets, covering regions specified arsenic Singapore, Australia, and Hong Kong.

Singapore bets connected stablecoins

The Singaporean Sony subsidiary allowing stablecoin payments whitethorn beryllium the commencement of a caller inclination successful the region. Late February reports bespeak that Metro, a publically listed section store concatenation successful Singapore, has enabled its customers to wage for products utilizing stablecoins similar Tether’s USDt.

The initiatives besides travel January reports that Singapore is becoming a cardinal destination for Web3 companies aft it issued doubly arsenic galore crypto licenses successful 2024 arsenic successful the erstwhile year. William Croisettier, main maturation serviceman of ZKcandy, told Cointelegraph astatine the time:

“The state adopts a risk-adjusted attack to crypto regulation, focusing connected the biggest integer currencies to support investors. Singapore besides makes it casual for caller crypto firms to interact with section banking partners, a proviso considered a luxury successful different parts of the world.”

An emerging crypto hub

In precocious November, the crypto-friendly integer slope Singapore Gulf Bank reportedly sought a money injection of astatine slightest $50 cardinal arsenic it plans to acquire a stablecoin payments institution successful 2025. The steadfast was motivated to prosecute the effort, with alleged plans to merchantability up to 10% of its equity to money it.

A survey published astatine the extremity of 2024 revealed that its attack to regularisation made Singapore a planetary champion of blockchain technology. The state scored the highest among each considered jurisdictions based connected aggregate factors.