Sony Electronics Integrates Cryptocurrency Payments with Crypto.com
Sony Electronics, in collaboration with cryptocurrency exchange Crypto.com, has integrated cryptocurrency payments into its online store, allowing customers in Singapore to purchase gadgets using USDC. This initiative was announced on Tuesday via a press release and marks Sony’s first local attempt at direct cryptocurrency transactions.
Shoppers in Singapore can now use USDC to check out on the online Sony Store. The Crypto.com payment system will power this unique new payment feature for the online store, which is currently limited to USDC, a stablecoin pegged to the US dollar. However, Sony has stated that additional cryptocurrencies may be added in the future.
According to Coingecko, USDC is the second-largest stablecoin by market capitalization, with a circulation exceeding $60 billion.
Crypto.com Partners with Sony to Enhance Market Coverage
Chin Tah Ang, General Manager of Crypto.com Singapore, created the integration as a step towards mainstream cryptocurrency adoption.
“We are working to make Crypto payments more mainstream, and collaborating with a reputable and forward-thinking brand like Sony Electronics Singapore further enhances the awareness of using Crypto for everyday goods and services,”
Sony and Crypto.com are also launching a promotional campaign where the first 50 customers spending at least SGD 300 using Crypto.com Pay will receive a free LinkBuds speaker valued at SGD 299. Additionally, the first 150 users spending a minimum of SGD 100 will receive 20 USDC credited to their Crypto.com accounts. Customers spending SGD 300 or more can claim both rewards, subject to availability. According to the announcement, the promotion will run until April 30, 2025.
This partnership with Sony comes just over a week after Crypto.com agreed to launch several exchange-traded fund products with Donald Trump’s media company, Trump Media.
In a statement released on March 25, Trump Media confirmed that the ETFs will be “US-focused” and are expected to launch later this year, pending regulatory approval.
At the end of March, Crypto.com was also embroiled in legal battles with the U.S. Securities and Exchange Commission (SEC). On March 27, CEO Kris Marszalek stated in a post that the SEC had taken no action against cryptocurrency exchanges and criticized the financial regulator for “trying to choke it.”
“The fact that we not only persist but become stronger proves our vision and the community that supports it. Onward!”
Sony Expands Web3 Ambitions through Line Partnership
Sony’s blockchain division is pushing its Web3 ambitions forward through a partnership with Japanese social media giant Line, which boasts around 200 million active users. This collaboration, announced in mid-March, will bring several Line-based mini-apps to the custom Ethereum Layer 2 network, Sony Soneium blockchain.
Sony Block Solutions Labs utilizes optimistic rollup technology and is ranked as the 14th layer 2 network by total value locked, according to L2Beat. The blockchain aims to bridge Web2 users to Web3 by supporting digital collectibles, creator tools, and in-game economies associated with the Sony Entertainment ecosystem.
As part of the protocol, four Line mini-apps—Sleepagotchi, Farm Frens, Puffy Match, and Pocket Mob—will be integrated into Soneium. These applications have strong user bases within the ecosystem and will introduce blockchain-based functionalities like in-game rewards and purchases.
“Line has built a strong influence, and integrating successful mini-apps into the Soneium ecosystem is the next step to making Soneium more accessible,”
“We believe this collaboration will drive engagement and adoption in ways that were previously difficult to achieve.”
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