Singapore’s iconic Metro department store is embracing digital finance by enabling stablecoin payments, signaling a major shift toward cryptocurrency adoption in mainstream retail.
Metro, a publicly listed and long-established department store chain in Singapore, has introduced stablecoin payments in collaboration with Dtcpay, a Singapore-licensed crypto payment provider. This partnership will allow Metro customers to pay with Tether’s USDt (USDT), Circle’s USD Coin (USDC), First Digital USD (FDUSD), and Worldwide USD (WUSD), Dtcpay announced on Feb. 26.
Metro’s chief operating officer, Erwin Wuysang-Oei, called the move a “transformative moment”, reinforcing the company’s commitment to innovation and providing seamless payment experiences for customers.
Metro’s Stablecoin Integration Across Locations
Metro customers can now pay with stablecoins at two of its flagship locations: Metro Paragon and Metro Woodlands. The integration aims to offer customers a secure, fast, and cost-effective payment solution without the volatility of traditional cryptocurrencies like Bitcoin (BTC) or Ether (ETH).
Dtcpay’s commercial director, Andy Sze Toh, highlighted that stablecoins provide a seamless and secure alternative to volatile crypto assets, ensuring smoother transactions for both businesses and consumers.
Stablecoin Payments Gain Momentum in Singapore
Singapore has been at the forefront of crypto adoption, with digital asset transactions reaching nearly $1 billion in Q2 2024, according to Chainalysis. This rise underscores the growing acceptance of digital currencies in the country’s retail and financial sectors.
Metro’s move follows a broader trend, as Dtcpay recently announced it would phase out support for Bitcoin and Ether payments by December 2025, shifting its focus exclusively to stablecoin transactions. The shift reflects an industry-wide push toward greater reliability, scalability, and regulatory compliance in crypto payments.
Challenges and the Road Ahead
Despite the announcement, Metro’s website has yet to reflect stablecoin payment options. As of now, the retailer’s payment FAQ only lists credit cards as an accepted method. This suggests that while in-store payments are available, the online rollout is still in progress.
What’s Next?
Metro’s stablecoin integration signals a broader shift in retail payment systems, aligning with Singapore’s evolving digital finance landscape. As regulatory clarity improves and consumer interest grows, stablecoin payments could become a common fixture in mainstream commerce.
If Metro’s adoption proves successful, it could pave the way for other major retailers in Singapore and beyond to explore crypto payment integrations, bridging the gap between traditional finance and digital assets.
