Sony Begins Accepting USDC Payments in Its Singapore Online Store

Sony customers in Singapore can now use the USDC stablecoin in its online store.

Sony Electronics' Singapore (SES) has integrated cryptocurrency payments in partnership with crypto exchange Crypto.com, the two firms said Wednesday.

Stablecoins are cryptocurrencies whose value is pegged to a real-world asset, such as the U.S. dollar or gold. USDC, issued by Circle, is the second-largest dollar-backed token, trailing only Tether's USDT in size.

Headquartered in Singapore, Crypto.com won approval as a provider of Digital Payment Token (DPT) services in the city state in June 2023, allowing it to provide crypto payments to clients.