Sony Electronics Singapore has partnered with Crypto.com to enable USDC payments, reflecting the growing trend of stablecoin adoption in the region.
According to an announcement on April 2, the online store of Sony’s Singapore-based subsidiary now allows customers to pay with USDC through the Crypto.com exchange. Chin Tah Ang, General Manager of Crypto.com Singapore, stated:
“We are pushing to make crypto payments more mainstream. Partnering with a well-established and forward-thinking brand like Sony Electronics Singapore further raises awareness of how convenient it is to use crypto for everyday purchases and services.”
This is not the first time Crypto.com has collaborated with a major brand. At the end of 2024, the crypto exchange partnered with Deutsche Bank to provide corporate banking services across the Asia-Pacific region, covering markets such as Singapore, Australia, and Hong Kong.
Singapore Bets on Stablecoins
Sony Electronics Singapore’s decision to accept stablecoin payments may signal a new trend in the region. Earlier, in late February, Metro—a publicly listed department store chain in Singapore—also enabled payments using stablecoins like Tether’s USDt.
These initiatives align with Singapore’s growing status as a hub for Web3 companies. A January report revealed that the country had issued twice as many crypto licenses in 2024 as in the previous year. William Croisettier, Chief Growth Officer of ZKcandy, told Cointelegraph:
“Singapore takes a risk-adjusted approach to crypto regulation, focusing on major digital currencies to protect investors. The country also makes it easy for new crypto firms to interact with local banking partners—a luxury in many other parts of the world.”
Singapore Emerges as a Crypto Hub
In late November, the crypto-friendly digital bank Singapore Gulf Bank sought to raise at least $50 million to acquire a stablecoin payments company in 2025. The bank even planned to sell up to 10% of its equity to fund the acquisition.
A study published at the end of 2024 revealed that Singapore’s regulatory approach has positioned it as a global leader in blockchain technology. The country ranked highest among all jurisdictions considered, based on multiple factors.
