The stablecoin payment option will initially be available at Metro Paragon and Metro Woodlands locations.
By Chimamanda U. Martha
Edited by Julia Sakovich
Updated
3 mins read
Metro, one of Singapore’s leading retail chains, has announced its readiness to let customers make payments using stablecoins such as Tether USD USDT $1.00 24h volatility: 0.0% Market cap: $144.12 B Vol. 24h: $39.90 B , Circle USD USDC $1.00 24h volatility: 0.0% Market cap: $60.26 B Vol. 24h: $11.29 B , FD121’s First Digital USD FDUSD $1.00 24h volatility: 0.2% Market cap: $2.58 B Vol. 24h: $6.63 B , and Worldwide Stablecoin Payment Network’s WUSD.
The move marks a significant step in expanding crypto adoption within the country’s retail sector. According to an announcement on Wednesday, the new payment service is available for both in-store and online shoppers.
Metro has partnered with Singapore-based crypto payments firm dtcpay to integrate stablecoin payments into its checkout system. As a major retail chain in Singapore, Metro operates department stores that offer fashion, home goods, and lifestyle products.
🛍️ The future of shopping is here—pay for your next Metro spree with #stablecoins! #USDC #USDT #WUSD
We’re excited to be announcing our collaboration with #Metro, one of #Singapore’s most iconic departmental stores!
Read more: https://t.co/1xcnfBvzZA pic.twitter.com/FHo0KPD9gf
— dtcpay (@dtc_pay) February 26, 2025
However, dtcpay clarified that the new payment option will initially be available at only two Metro locations: Metro Paragon and Metro Woodlands.
dtcpay noted that while Metro has always embraced technological innovation, this latest move aims to enhance the shopping experience by providing a seamless and secure digital payment method. Additionally, merchants will benefit from lower transaction costs compared to traditional payment systems.
“Now, Metro customers can enjoy seamless, secure payments without the concerns of price fluctuations that come with using more volatile digital asset,” said dtcpay Commercial Director Andy Sze Toh.
dtcpay’s partnership with Metro Singapore comes shortly after the firm decided to focus exclusively on stablecoin payments, discontinuing support for other cryptocurrencies due to their volatility.
The company explained that while assets like Bitcoin BTC $84 143 24h volatility: 3.1% Market cap: $1.67 T Vol. 24h: $33.51 B , Ethereum ETH $1 900 24h volatility: 4.9% Market cap: $229.01 B Vol. 24h: $19.23 B , and Solana SOL $128.2 24h volatility: 6.2% Market cap: $65.62 B Vol. 24h: $3.91 B fluctuate based on market conditions, stablecoins offer a more reliable alternative, especially during periods of market turbulence.
DTCPAY stated that phasing out other cryptocurrencies aligns with its mission to provide customers with a stable, scalable, and secure payment solution through the use of stablecoins.
Metro is not the only company in Singapore integrating cryptocurrency payments. Last year, ride-hailing giant Grab partnered with payments firm Triple-A to introduce crypto payment options in its super-app.
The partnership enabled users to pay with Bitcoin (BTC), Ethereum (ETH), and stablecoins such as the Singapore dollar-backed XSGD, USDT, and USDC.
Additionally, iStudio, Singapore’s largest Apple product reseller, teamed up with Triple-A to enable crypto payments across multiple locations, including its stores in Jurong Point, Tampines Mall, Changi Airport Terminal 3, Paragon, and NEX.
The increasing adoption of crypto payments among businesses in Singapore reflects the growing demand for stablecoins, which are valued for their ability to maintain a peg to fiat currencies such as the US dollar and euro.
Last year, blockchain analytics firm Chainalysis reported that Singapore alone generated nearly $1 billion in crypto payments during the second quarter of 2024. This trend suggests that stablecoin adoption in retail is set to grow further as businesses continue to seek more efficient and cost-effective payment solutions.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
