Customers of Sony in Singapore are now able to utilize the USDC stablecoin for purchases in its online shop.
Sony Electronics Singapore (SES) has implemented cryptocurrency payment options in collaboration with the crypto exchange platform Crypto.com, as announced on Wednesday.
Stablecoins are digital currencies designed to maintain a stable value, typically linked to a tangible asset like the U.S. dollar or gold. USDC, issued by Circle, ranks as the second-largest dollar-pegged token, following Tether’s USDT.
Crypto.com, headquartered in Singapore, received regulatory approval in June 2023 to operate as a provider of Digital Payment Token (DPT) services, enabling it to facilitate cryptocurrency payments for its users.