Metro Becomes First in Singapore to Accept Stablecoins

Metro Becomes First in Singapore to Accept Stablecoins

Singapore’s Metro Departmental Store will begin accepting payments in stablecoins. This move makes Metro the first department store in Singapore to accept stablecoin payments, which will be available both in its physical stores and for online shopping.

According to a company statement seen by Lianhe Zaobao, Metro has formed a partnership with cryptocurrency payments company dtcpay, positioning itself at the forefront of retail innovation by offering payment options tailored to tech-savvy shoppers.

Metro customers will be able to pay using Tether (USDT), USD Coin (USDC), and Worldwide USD (WUSD), with support for First Digital USD (FDUSD) to be added soon.

The retail sector is undergoing digital transformation, and stablecoins are becoming a key driver of this shift. According to a recent report by blockchain analytics platform Chainalysis, stablecoin payments in Singapore alone reached nearly SGD1 billion in the second quarter of 2024, highlighting a growing demand for stable and predictable digital payment methods.

Metro’s goal extends beyond simply meeting modern payment needs.

“Our partnership with dtcpay affirms our vision to stay ahead in a rapidly evolving retail landscape. By integrating stablecoin payments, we are not only embracing the future — we are helping to shape it. This is a transformative moment for Metro, and we are excited to lead the industry in making digital assets a practical part of our customers’ everyday lives. The report also noted that Singapore’s cryptocurrency market—traditionally dominated by institutional investors—has seen a shift in recent years, with transaction activity among retail and professional investors steadily rising."

Erwin Wuysang-Oei

COO of Metro Departmental Store

The report added that this trend may be linked to favorable market conditions, as well as increased confidence from strengthened consumer-protection regulations introduced by the Singapore government.

With clear regulatory frameworks and growing merchant adoption, the report suggests that Singapore is poised to become a major hub for digital assets, attracting more global businesses and investors.

美罗百货商店将接受稳定币付款创本地业界先例

新加坡的美罗百货商店 (Metro Departmental Store）将接受顾客使用稳定币 (stablecoin）付款。美罗新加坡此创举使它成为首家接受稳定币付款的新加坡百货商店，在美罗的实体店和网上购物都可用稳定币付款。

根据《联合早报》看到的美罗公司文告，美罗和加密货币支付公司dtcpay建立伙伴关系，认为这使它处于零售业创新的前端，为熟悉科技的购物者提供这个付款方案。

美罗的顾客可以使用泰达币 (Tether USDT）、美元稳定币 (USDC）和全球美元稳定币 (WUSD）来付款，不久后也将接受顾客使用第一数码美元稳定币 (FDUSD）付款。零售业正在经历数码转型，稳定币正在成为这一变革的关键驱动力。

根据区块链分析平台Chainalysis最近的一份报告，仅在2024年第二季，新加坡的稳定币支付就达到近10亿元，凸显对稳定、可预测的数码支付方式的需求日益增长。

美罗不仅是要满足现代付款需求。美罗百货商店首席运营官欧文 (Erwin Wuysang-Oei) 在文告中说：报告也指出，过去几年，一向由机构投资者主导的新加坡加密货币市场正出现改变，零售和专业投资者的转账规模逐年增加。

报告说，这一趋势或与市场情况利好有关。此外，新加坡政府增加保护消费者条例的监管努力，给了零售和专业投资和更大的信心进入市场。由于市场有明确的监管条例、加上商家也逐步采纳，报告指这些趋势预示新加坡有望成为数码资产主要枢纽，最终吸引更多全球企业和投资者。

"与dtcpay的合作，印证我们在快速变化的零售环境中保持领先地位的愿景。通过整合稳定币支付，我们不仅拥抱未来，而且正在塑造未来。这是美罗的变革时刻，我们很高兴能够引领行业，使数码资产成为我们顾客切实可行的日常现实。”

Erwin Wuysang-Oei

美罗百货商店首席运营官

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Link to article at here.

Metro Becomes First in Singapore to Accept Stablecoins