While organizers in Europe impose strict guidelines on Stablecoins, Singapore has recently decided to adopt Stablecoin’s payments, with the aim of placing itself as an encryption center.
Metro stores in Singapore embrace Stablecoins
The Metro Department store in Singapore has become the first store in Singapore to accept Stablecoin payments. According to a statement issued by Metro, customers will be able to use Stablecoins for purchases in Metro material stores and online platform.
According to local media ReportsThe company has made a partnership with the Cryptocurrency DTCPAY payment provider to implement this step. Metro believes that this partnership puts it at the forefront of the innovation of retail, as it is offered to shoppers who enjoy cunning in technology.
Customers will be able to pay using Tether (USDT), a stable currency in US dollar (USDC), and the global currency of the US dollar (Wusd). Soon, the metro will accept the payments using the first stable currency of the digital dollar (FDUSD).
Singapore is witnessing the increasing demand for Stablecoin payments, as well as a recent report issued by the Blockchain analytics platform that revealed that Stablecoin’s payments in Singapore amounted to nearly one billion dollars in the second quarter of 2024.
“By integrating Stablecoin’s payments, we not only embrace the future, but we establish it. This is a transformative moment for the metro, and we are excited to lead the industry and make digital assets a daily reality for our customers,” said Erwin Wouisang-Awi, Executive Director of Operations at Metro stores.
Also read: Crypto.com, KAKEN is considering launching a private Stablecoins in Europe
