Metro Departmental Store in Singapore Will Be the First to Accept Stablecoin Payments

Metro Departmental Store in Singapore has announced it will be the first store in the nation-state to start accepting payments in stablecoins.

Metro Departmental Store, a well-known name in Singapore's retail scene, is spearheading a new era in payments within the city-state. The store is set to become the first in Singapore to accept payments in stablecoins.

Starting today, customers at Metro can conveniently pay using Tether (USDT), USDC, and WUSD both in-store and online. According to a report by Lianhe Zaobao, First Digital USD (FDUSD) will also be supported by Metro soon.

This initiative follows a partnership between Metro and crypto payment company dtcpay. As the COO of Metro Department Store, Erwin Wuysang-Oei, mentioned, this collaboration aims to position Metro at the forefront of retail innovation in the new era.

“We are always looking for new ways to improve the shopping experience for our customers. Accepting stablecoin payments is a natural progression for us as we continue to adapt to the changing retail landscape,” said Wuysang-Oei.

He further added that by adopting stablecoin payments, Metro is not just preparing for the future but actively shaping it.

"We are excited to be among the first retailers in Singapore to introduce this technology."

Moreover, Metro's partnership with dtcpay will enable it to meet the needs of tech-savvy consumers seeking modern digital payment solutions in the changing retail environment.

Metro's move comes at a time when the demand for stablecoin payments is increasing. According to Chainalysis data, stablecoin transactions in Singapore reached nearly $1 billion in Q2 2024.

At #HederaCon 2025, Alisa DiCap (@alisav777) from SWIFT, Sushil Dropp (@droppcc) from CC Union, Ahmed Zifzaf (@ahmedzifzaf) from Worldpay, and Rob Nodl from Australian Payments Plus discussed the original crypto “killer use case” – payments. 🪙

With stablecoins surpassing $200B in market… pic.twitter.com/wtUyMghIsp

Industry experts at ETHDenver discussed how growing stablecoin tech and blockchain progress could change global payment systems. Stablecoins, with a market value over $200 billion, could be a cheaper and faster option compared to traditional financial systems.

These technologies could lessen the problems of current financial systems in cross-border payments, where fees and delays are common, according to the experts.

However, while there are benefits to stablecoin payments, broader adoption still faces issues. Regulatory roadblocks and practical problems are still obstacles to fully adding blockchain-based payments into the larger economy.

Moreover, industry experts at ETHDenver noted that, despite the promise of faster and cheaper transactions, overcoming these challenges is key to making sure stablecoins can grow and be accepted worldwide as a regular payment method.