Metro Singapore Offers Stablecoin Payment for Purchases

Metro, a prominent retail chain in Singapore, has announced the launch of stablecoin payments, allowing customers to use Tether USD (USDT), Circle USD (USDC), FD121’s First Digital USD (FDUSD), and Worldwide Stablecoin Payment Network’s WUSD.

This move marks a pivotal development in the country’s expanding adoption of cryptocurrencies in retail.

The new payment option is available for both in-store and online transactions.

As demand for stablecoins rises, businesses in Singapore are increasingly integrating crypto payments, drawn by the stability these coins offer by maintaining a peg to fiat currencies like the US dollar and euro.

Getting Closer to Mainstream Crypto Adoption

Metro has teamed up with Singapore-based crypto payments provider dtcpay to introduce stablecoin payments at its checkout system.

As a leading retail chain offering fashion, home goods, and lifestyle products, Metro will initially roll out this payment option at two locations: Metro Paragon and Metro Woodlands.

dtcpay emphasized that this move aligns with Metro’s commitment to innovation, enhancing the shopping experience with secure, seamless digital payment solutions.

Merchants also stand to benefit from lower transaction fees compared to traditional systems.

dtcpay Commercial Director Andy Sze Toh said:

“Now, Metro customers can enjoy seamless, secure payments without the concerns of price fluctuations that come with using more volatile digital asset.”

This partnership follows dtcpay’s decision to focus exclusively on stablecoin payments, discontinuing support for other cryptocurrencies like Bitcoin and Ethereum due to their volatility.

By prioritising stablecoins, dtcpay aims to provide a more reliable, scalable, and secure payment option, especially in times of market uncertainty.