Sony Electronics Singapore, a subsidiary of the Japanese tech giant Sony, has recently announced that it will now be accepting USDC (USDC) stablecoin payments through an integration with Crypto.com. This move marks a significant step towards mainstream adoption of cryptocurrency as a means of payment for everyday goods and services.

According to Chin Tah Ang, the general manager of Crypto.com Singapore, this partnership with a well-established and forward-thinking brand like Sony Electronics Singapore will raise awareness of the simplicity and convenience of using crypto for payments. This is just one of the many high-profile partnerships that Crypto.com has been able to secure, including a recent collaboration with Deutsche Bank to provide corporate banking services across Asian-Pacific markets.

The acceptance of stablecoin payments by the Singaporean Sony subsidiary may be the start of a new trend in the region. In late February, it was reported that Metro, a publicly listed department store chain in Singapore, has enabled its customers to pay for products using stablecoins like Tether’s USDt. This follows January reports that Singapore has become a key destination for Web3 companies, issuing twice as many crypto licenses in 2020 as in the previous year.

Singapore’s approach to crypto regulation, which focuses on protecting investors and making it easy for new crypto firms to interact with local banking partners, has made it a global champion of blockchain technology. In fact, a study published at the end of 2020 ranked Singapore as the top jurisdiction for blockchain based on patents, jobs, and exchanges.

This emerging trend towards crypto adoption in Singapore is further evidenced by the efforts of the crypto-friendly digital bank Singapore Gulf Bank, which is seeking a fund injection of at least $50 million to acquire a stablecoin payments company in 2021. Additionally, a recent study revealed that Singapore is not only a leader in blockchain technology, but also in the adoption of cryptocurrency, with a high percentage of the population owning or using digital assets.

As Singapore continues to pave the way for crypto adoption and innovation, it is clear that the country is becoming a major hub for the industry. With its progressive approach to regulation and partnerships with established brands like Sony, Singapore is poised to become a leader in the global crypto landscape.