Sony Adopts USDC Payments in Singapore Soon After Circle IPO Filing

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Sony Adopts USDC Payments in Singapore Soon After Circle IPO Filing

Tech giant Sony Electronics announced that it would accept USDC stablecoin payments in Singapore, with transactions facilitated through Crypto.com’s payment services. The announcement comes at a time when USDC issuer Circle submitted an S-1 filing to the US Securities and Exchange Commission (SEC) to launch its own Initial Public Offering (IPO).

Speaking on this news, Chin Tah Ang, General Manager of Crypto.com Singapore, said:

“We’re pushing to make paying in crypto more mainstream.”

Currently limited to one cryptocurrency, Sony stated that it plans to support more in the future. This move aligns with the company’s broader push into blockchain and Web3 technologies across its global operations.

Earlier this year in 2025, Sony debuted its Ethereum Layer-2 blockchain Soneium to support different use cases such as creator tools, digital collectibles, etc. to drive in-game economics. During its testing phase in September, Soneium integrated support for bridged USDC, establishing it as a key transaction option for apps built on the network.

Circle Submits IPO Filing to US SEC for NYSE Listing

USDC stablecoin issuer Circle submitted its IPO filing to US SEC to go public on the New York Stock Exchange (NYSE). As per the Form S-1 registration filed with the SEC on April 1, the USDC issuer will list its Class A common stock under the symbol “CRCL”.

The filing revealed that Circle generated $1.67 billion in revenue for 2024, marking a 16% year-over-year increase. However, net income dropped to $155.6 million, a 41.8% decline from 2023, while the company reported a $761.7 million net loss in 2022.

Over the last year, Circle;’s market cap has nearly doubled to over $60 billion, following a strong demand for the stablecoin. Additionally, Circle has an edge over its rival Tether in the European market, being a stablecoin with MiCA compliance.

The filing revealed that over 99% of Circle’s revenue last year came from its stablecoin reserves, with the company earning income through yield-bearing Treasury bills.

Circle also holds $6.2 million in Bitcoin BTC $84 694 24h volatility: 0.8% Market cap: $1.68 T Vol. 24h: $27.64 B , $5.6 million in Sui SUI $2.38 24h volatility: 0.1% Market cap: $7.71 B Vol. 24h: $1.06 B , and over $3.3 million in Ethereum ETH $1 872 24h volatility: 0.6% Market cap: $225.77 B Vol. 24h: $14.30 B , along with holdings in Sei SEI $0.17 24h volatility: 2.8% Market cap: $839.58 M Vol. 24h: $71.94 M , Aptos APT $5.28 24h volatility: 1.6% Market cap: $3.19 B Vol. 24h: $143.84 M , and Optimism OP $0.74 24h volatility: 4.0% Market cap: $1.19 B Vol. 24h: $118.47 M .