The Departmental Store Chen Metro of Singapore will allow its customers to pay stabecoin both in the physical store and online in the metro mall.
According For a local publication, the Metro Department Store in Singapore, along with Singapore’s Crypto Payments firm DTCPAY has enabled Stabecrimal payments using assets such as WUSD of Tether’s USDT, Circle’s USDC and Worldwide Stabilcin Payment Network.
Soon, they will first support the payment using the digital dollar StableCoin (FDUSD).
The Metro’s COO, Erwin Woisung-OEE described as a step towards maintaining the partnership with a retail landscape that develops the partnership. He emphasized that by accepting stabelcoin payments, the metro is “not only embrace the future, but is shaping it.”
“This is a transformational moment for the metro, and we are excited to lead the industry to lead the industry in creating a viable everyday reality for our customers,” said Wuices-OEE.
The latest partnership follows DTCPAY’s decision to switch on Stabelcoin specifically for payment in 2025, when it decided to leave Bitcoin (BTC) and Etharium (Ath) back in January. At that time, the company stated that the decision would allow it to offer it “more reliable, scalable and safe payment experience”.
Meanwhile, Singapuri has rapidly heated up to crypto, making digital property a large part of daily life and investment.
As the earlier Crypto.news was covered by Crypto.news, the money managers from Singapore have reported to allocate a large part of their portfolio to digital assets, especially since President Donald Trump’s victory in the 2024 US elections.
At that time, CEO Grald Goh, CEO of Signum Bank, said the locals were “more positive about the inclusion of crypto investment as part of their investment portfolio.”
Singapore has pulled forward from other courts like Hong Kong, when it comes to adopting crypto. During 2024, the monetary authority of Singapore gave 13 new crypto licenses, doubling the number recorded last year. In comparison, Hong Kong lagged behind a highly restrictive regulatory structure.
