Mike Smith
Feb 26
Singaporean retail chain Metro has announced a partnership with fintech company DTCPAY, allowing customers to pay for department store purchases with digital assets. Currently, customers can use stablecoins Tether's USDT, Circle's USDC, and Worldwide Stablecoin Payment Network's WUSD. The First Digital Dollar (FDUSD) is expected to be added soon.
Metro CEO Erwin Wuyisang-Oei noted that the move cements the company's position as an innovator in digital payments. According to him, Metro is not just adapting to the future, but actively shaping it.
The adoption of cryptocurrency in retail is gaining momentum in Singapore. Residents of the country are increasingly considering digital assets not only as an investment tool, but also as a convenient means of payment. The trend is supported by growing trust in blockchain technologies, as well as the actions of local regulators that create a favorable environment for working with digital finance.
In 2024, the Monetary Authority of Singapore issued 13 licenses for activities related to digital assets, which is double the figure for the previous year. This underlines the active development of the sector and high interest from businesses.
Metro, being one of the largest retail chains in the country, is making a strategic move by offering customers convenient payment solutions based on cryptocurrencies. This not only increases the convenience of shopping, but also strengthens the company's position among innovative retailers.
