- Sony Electronics Singapore now accepts USDC payments via Crypto.com, marking its first step into direct crypto transactions locally.
- Despite scrutiny over reissuing CRO tokens, Crypto.com continues expanding through EU licensing and an ETF deal with Trump Media.
Sony Electronics Singapore has officially opened the door to payments using USDC, a stablecoin pegged to the US dollar. Through a partnership with Crypto.com, purchases on Sony’s online store can now be made using crypto. While not everyone can buy a PlayStation using Bitcoin yet, this is an interesting first step for the local market.
However, this payment is still limited to USDC only. Other cryptos are not yet accepted, although Sony has stated that there are plans to add support for other digital assets in the future. Meanwhile, customers in Singapore who use Crypto.com Pay can enjoy two attractive offers until the end of April 2025.
The requirements? Spend a minimum of S$100 or S$300, then get ready to receive gifts such as LinkBuds speakers or even USDC cashback. It’s like buying a coffee, then suddenly getting a bonus cinema voucher.
Behind this decision, there is a movement that is increasingly clear: big brands are starting to touch the crypto space directly. Sony may be the first big name in Singapore to do this officially, but not the first globally. The question is, are consumers ready to abandon traditional payment methods just to pay with crypto?
Crypto.com’s 70 Billion Token Controversy
On the other hand, Sony’s move comes at a rather interesting—and arguably, somewhat hot—time. Crypto.com, their payment partner, has recently come under intense scrutiny from the crypto community.
CNF has reported that Crypto.com was accused by on-chain analyst ZachXBT of reissuing 70 billion CRO tokens that it had promised to burn permanently in 2021. The move sparked outrage, and public trust in the company’s transparency was again questioned.
Building Trust Through Licenses and Partnerships
However, Crypto.com is also seen actively building its credibility in the regulatory scene. On March 21, 2025, the company received an official license as a Crypto Asset Service Provider from the Malta Financial Services Authority. This license was granted under the new framework in the European Union, the Market in Crypto Assets (MiCA) regulation.
This way, Crypto.com can reach the European market legally. No longer just a regular crypto application, they are now entering a more formal path, although their past track record is still a matter of debate.
Then a few days later, on March 24, Trump Media & Technology Group also announced a partnership with Crypto.com to launch a crypto ETF through the Truth.Fi brand. This ETF will focus on digital assets and securities themed “Made in America.”
In this project, Crypto.com is tasked with providing backend technology, custody, and distribution of crypto assets to support the ETF ecosystem. Imagine an ETF, but instead of containing traditional company stocks, it contains digital tokens with a touch of American nationalism.
