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Sony Electronics Accepts USDC Payments in Singapore
Sony Electronics has recently announced the acceptance of USDC stablecoin as a payment method for its online store in Singapore. This move comes as part of a partnership with Crypto.com, a prominent exchange for virtual digital assets headquartered in Singapore. The update was revealed in an announcement made on Wednesday, marking Sony’s continued exploration into the Web3 domain with the recent launch of its own blockchain, Soneium. Currently, this payment option is exclusively available to customers shopping through the Sony Store Online in Singapore.
In a press release, Sony indicated that the growing popularity of cryptocurrency payments among tech-savvy youth has encouraged its integration. The company’s decision to accept USDC is seen as part of a broader strategy to innovate within the fintech landscape and align with advancements in the Web3 sphere.
Chin Tah Ang, General Manager at Crypto.com, expressed optimism about this initiative, emphasizing its potential to promote cryptocurrency’s adoption in everyday transactions. He mentioned that Sony’s large customer base can be an effective platform to increase awareness and understanding of crypto payments. “This payment integration will not only give our users an additional way to utilize their crypto in the real world, but it will also help expand SES’ customer base,” he stated.
Sony has indicated plans to broaden its cryptocurrency acceptance in the future, although it remains to be seen whether the company will extend this payment option beyond Singapore.
Stablecoins like USDC are increasingly attracting interest from corporations and governments for everyday transaction use. Other notable stablecoins include USDT and Binance USD, catering to a variety of market needs.
In September 2024, Sony Block Solutions Labs (Sony BSL) entered a partnership with Circle, the issuer of the USDC token. This collaboration places USDC as a critical element within the Soneium blockchain network. Jeremy Allaire, Co-Founder and CEO of Circle, referred to this partnership as a significant milestone for the cryptocurrency sector.
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