Shoppers in Singapore can now use cryptocurrency to purchase gadgets on the Sony Store Online. Sony Electronics Singapore has partnered with Crypto.com to introduce USDC payments through the exchange’s payment service. This marks Sony’s first local foray into direct cryptocurrency transactions, highlighting the growing integration of digital assets in mainstream commerce.
The newly enabled feature allows customers to check out using USDC, a stablecoin pegged to the U.S. dollar. Currently, this payment option is exclusive to the Sony Store Online and is only available through Crypto.com’s payment system.
For Now Only USDC
USDC, the second-largest stablecoin by market capitalization, has approximately $60.06 billion in circulation, following Tether’s USDT, which stands at $144.02 billion, according to CoinGecko. Circle, the issuer of USDC, recently filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC), signaling its intent to go public through an Initial Public Offering (IPO). The stablecoin’s increasing adoption in the global marketplace underscores its reliability and appeal as a secure digital payment method.
Sony and Crypto.com: Enhancing Crypto Adoption
The collaboration between Sony Electronics Singapore and Crypto.com underscores a broader trend toward making cryptocurrency payments more mainstream. Crypto.com, headquartered in Singapore, is among the world’s leading cryptocurrency exchanges, boasting over 140 million users across 90 countries. The platform is also recognized as an industry leader in regulatory compliance, security, and privacy certifications.
Chin Tah Ang, General Manager of Singapore at Crypto.com, emphasized the significance of this partnership:
“We’re pushing to make paying in crypto more mainstream, and partnering with a well-established and forward-thinking brand like Sony Electronics Singapore further raises awareness of how simple it can be to pay for everyday goods and services using crypto. This payment integration will not only benefit our users by giving them another way to utilize their crypto in the real world, but we believe adding a new and streamlined crypto payment method will also broaden Sony Electronics Singapore’s customer base.”
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Exclusive Promotions for Crypto.com Users
To celebrate the launch of USDC payments, Sony Store Online Singapore is offering two limited-time promotions for customers using Crypto.com Pay:
- Tier 1: The first 50 eligible users who spend a minimum of S$300 at Sony Store Online using Crypto.com Pay will receive a free LinkBuds Speaker (worth S$299).
- Tier 2: The first 150 eligible users who spend a minimum of S$100 at Sony Store Online using Crypto.com Pay will receive 20 USDC credited to their Crypto.com account.
These incentives aim to encourage crypto users to explore digital payments while shopping for Sony products online and Singapore is a perfect hub.
Future Expansion of Crypto Payment Options
While USDC is the only supported cryptocurrency at launch, Sony has indicated plans to expand the list of accepted digital assets in the future. The initiative aligns with Sony’s broader global strategy to integrate blockchain and Web3 technologies into its operations.
Earlier this year, Sony introduced Soneium, a custom-built Ethereum layer-2 network developed by its Singapore-based subsidiary, Sony Block Solutions Labs. During its testing phase in September, Soneium integrated support for bridged USDC, positioning the stablecoin as a primary payment method for transactions across decentralized applications built on the network.
Developers have leveraged Soneium to launch NFT collections, including a soulbound drop commemorating Sony’s iconic Aibo robot, as well as early-stage blockchain games. The network’s growing ecosystem signals Sony’s commitment to advancing Web3 technologies and digital assets for consumers worldwide.
A Step Toward Mainstream Crypto Payments
Sony’s decision to accept USDC payments in Singapore reflects a broader movement toward mainstream cryptocurrency adoption in the retail sector. With major companies increasingly integrating blockchain solutions, consumers can expect more seamless digital payment options in the future.
