Key Points
- Singaporean department store, Metro, partners with DTCPAY to accept stablecoin payments.
- DTCPAY switched to stablecoins exclusively in 2025 after dropping Bitcoin and Ethereum.
Singapore’s Metro department store chain has partnered with local crypto payments firm DTCPAY, enabling stablecoin payments for its customers.
A Step Towards the Future
The collaboration will allow payments with stablecoins such as Tether’s USDT, Circle’s USDC, and Worldwide Stablecoin Payment Network’s WUSD in both physical stores and online at Metro Mall. Soon, the First Digital Dollar Stablecoin (FDUSD) will also be supported.
Metro’s COO, Erwin Wuysang-Oei, views this partnership as a progress towards adapting to the changing retail landscape. He noted that by accepting stablecoin payments, Metro is not just embracing the future, but actively shaping it.
“This is a transformative moment for Metro, and we are excited to lead the industry in making digital assets a viable everyday reality for our customers,” said Wuysang-Oei.
DTCPAY’s Shift to Stablecoins
This partnership comes after DTCPAY’s decision to exclusively use stablecoins for payments in 2025, following its decision to drop Bitcoin (BTC) and Ethereum (ETH) in January. DTCPAY stated that this move would provide a “more reliable, scalable, and secure payment experience.”
Meanwhile, Singaporeans are increasingly embracing crypto, making digital assets a significant part of daily life and investments.
Singaporean wealth managers have reportedly allocated larger portions of their portfolios to digital assets, particularly since the 2024 U.S. elections.
Sygnum Bank CEO Gerald Goh mentioned that locals were “more positive about incorporating crypto investments as part of their investment portfolios.”
In terms of crypto adoption, Singapore has outpaced other jurisdictions like Hong Kong. In 2024, the Monetary Authority of Singapore granted 13 new crypto licenses, doubling the previous year’s numbers. In contrast, Hong Kong’s overly restrictive regulatory framework has led to slower progress in this area.
