Singapore Metro Store Adopts Stablecoins for Revolutionizing Digital Payments!

Jakarta, Pintu News – Metro, Singapore’s leading convenience store chain, has teamed up with local crypto payments provider DTCPAY to introduce stablecoin payments across all its physical stores and its online platform, Metro Mall.

This initiative marks a major step in the adoption of stable digital currencies in the retail sector.

Metro and DTCPAY Strategic Partnership

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Metro has selected four major stablecoins for their payment transactions, namely Tether USDT0.18%->Harga USDT Saat IniRp 16.5200.18%Market CapRp 0Volume TradingRp 0Suplai BeredarRp 0, Circle USD Coin USDC0.02%->Harga USDC Saat IniRp 16.5320.02%Market CapRp 684,12 TriliunVolume TradingRp 211,65 TriliunSuplai BeredarRp 42,53 Miliar, Worldwide Stablecoin Payment Network’s WUSD, and First Digital Dollar Stablecoin (FDUSD).

These stablecoins are chosen for their stable exchange rates, in contrast to more volatile cryptocurrencies like Bitcoin BTC2.76%->Harga BTC Saat IniRp 1.386.577.1652.76%Market CapRp 33.034 TriliunVolume TradingRp 1.590 TriliunSuplai BeredarRp 19.797.675 or Ethereum ETH7.53%->Harga ETH Saat IniRp 33.406.4317.53%Market CapRp 0Volume TradingRp 0Suplai BeredarRp 0.

This stability makes stablecoins an ideal choice for everyday transactions. Erwin Wuysang-Oei, Metro’s Chief Operating Officer, stated that this partnership is part of Metro’s vision to stay ahead in the fast-changing retail environment.

By adopting stablecoin payments, Metro is not only embracing the future but shaping it. This is a transformational moment for Metro, whose ambition is to lead the industry in making digital assets an everyday reality for customers.

Impact on Retail and Financial Industries

According to a recent report from blockchain analytics firm Chainalysis, stablecoin transactions in Singapore are on track to reach $1 billion in the second quarter of 2024 alone. This shows that stablecoin adoption in Singapore is growing rapidly, especially in the retail sector.

Metro’s initiative is expected to encourage more retailers to adopt similar technology. The use of stablecoins allows for faster and more secure transactions, reducing the risk of price fluctuations that often occur with other cryptocurrencies.

It also opens up new opportunities in the way consumers transact, giving them the flexibility to use digital currencies in everyday purchases without worrying about price volatility.

Read also: PayPal Poised to Dominate the Stablecoin Market with PYUSD in 2025!

Pro-Crypto Regulation in Singapore

Singapore has established itself as a global hub for cryptocurrencies, mainly due to its clear regulatory framework. The Payment Services Act 2019 has been a decisive factor in providing legal certainty to Digital Payment Token (DPT) service providers.

As of February 3, 2025, the Monetary Authority of Singapore (MAS) has granted licenses to 30 major payment institutions for DPT services. In 2024, Singapore granted 13 new licenses, reinforcing the crypto-friendly approach in regulation.

This regulatory transparency has encouraged domestic and foreign crypto companies to expand their operations in the country, creating a stable and conducive ecosystem for the growth of the crypto industry.

Overall, Metro’s initiative in adopting stablecoin payments marks a new era in retail and digital transactions in Singapore. With strong regulatory support and constant innovation, the future of digital payments in Singapore looks bright and promising.

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Reference:

• Cointelegraph. Metro Store Singapore Embraces Stablecoin Payments: Report. Accessed on February 27, 2025
• The News Crypto. Singapore Metro Store Embraces Stablecoins for Seamless Payments. Accessed on February 27, 202