Sony Singapore has revealed plans to start accepting customer payments in USDC via Crypto.com, with intentions to incorporate additional cryptocurrencies in the future.
Starting April 2 at 11:00 SST, customers in Singapore will be able to purchase Sony electronic products using the Circle-issued stablecoin USDC exclusively on Sony’s online store. This payment option is powered by Crypto.com, utilizing their established payment solution, Crypto.com Pay, which enables users to make instantaneous crypto transactions without incurring network fees.
As noted in their official announcement, by adopting this payment solution, Sony Electronics Singapore has become the first consumer electronics brand in the region to collaborate with Crypto.com, allowing customers to pay using stablecoins. Additionally, Sony Singapore aims to expand its acceptance of various cryptocurrencies for payments in the future, promoting greater crypto adoption within the country.
Chin Tah Ang, the General Manager of Crypto.com in Singapore, mentioned that this new payment integration is designed to simplify and enhance the accessibility of crypto transactions for Sony customers, demonstrating the advantages of utilizing stablecoins.
“Our goal is to normalize crypto payments, and working with a reputable and forward-thinking company like Sony Electronics Singapore helps highlight how easy it can be to use cryptocurrency for everyday purchases,” Ang expressed.
USDC has emerged as the second-largest stablecoin by market capitalization, currently boasting a value of $60 billion, trailing only behind USDT’s $144 billion. There are over 60 billion USDC currently in circulation, based on the latest data.
To encourage the use of USDC, Sony Singapore’s online store is launching two promotional offers for Crypto.com users. The first 50 customers who spend at least 300 Singapore dollars (approximately $223) in USDC through Crypto.com Pay will receive a complimentary LinkBuds Speaker valued at 299 SGD.
In addition, the first 150 customers to spend a minimum of 100 SGD in USDC will earn 20 USDC deposited into their Crypto.com accounts. Customers spending 300 SGD on the Sony online store will be eligible for both promotional offers.
In a similar vein, last February, Singaporean department store chain Metro announced its acceptance of stablecoin payments in both its brick-and-mortar and online outlets, partnering with the crypto payment firm DTCPAY to facilitate transactions in USDT, USDC, and WUSD.