Sony accepts payments in stablecoin

Sony Electronics Singapore, a subsidiary of the Japanese hi-tech giant Sony, has announced the integration of payments in the stablecoin USDC

Sony Electronics Singapore, a subsidiary of the Japanese hi-tech giant, has announced the integration of payments in the stablecoin USDC, made possible by a new collaboration with the Crypto.com exchange.

The partnership with Crypto.com will allow customers in Singapore to purchase Sony products, including TVs, gaming consoles and headphones, directly through the Crypto.com app, using their USDC balances.

“We are constantly looking for new ways to enhance the shopping experience for our customers and expand the payment options available to meet the evolving needs of today’s consumers,” said Masahiro Kuse, general manager of the Consumer Products Center at Sony Electronics Singapore.

At the same time, the partnership will also serve to increase awareness of cryptocurrency among a broader segment of the population.

“We are pushing to increase the possibilities for making payments in cryptocurrency, and the partnership with an established brand like Sony Electronics Singapore raises awareness of how simple it can be to pay for everyday goods and services using crypto,” said Chin Tah Ang, general manager of Crypto.com Singapore.

This is just one of the latest partnerships signed by the exchange. Already at the end of 2024, for example, the CEX had signed an important collaboration with Deutsche Bank, to expand new corporate banking services in the Asia-Pacific market.

Singapore's push into the crypto world

The USDC story, however, takes on specific relevance, suggesting that stablecoin payments may have found a new momentum for development. This, in a region like Singapore that has already taken steps in this direction. Just this past February, the Metro chain had also allowed its customers to pay for products using USDT.

This is also made possible by a jurisdiction increasingly favorable to the crypto industry, with regulations that not only simplify life for the industry’s main players, but also facilitate the interaction of new cryptocurrency companies with local banking partners.

It is no coincidence that local banks such as Gulf Bank have already revealed their intention to acquire a stablecoin payment company, using up to 10% of their capital to finance it. Singapore is already a leading global crypto hub, and initiatives like this prove it.