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Metro Departmental Store in Singapore has announced it will be the first store in the nation-state to start accepting payments in stablecoins. Starting now, customers can pay with Tether (USDT), USDC, and WUSD in stores and online. According to a report noted by media outlet Lianhe Zaobao, Metro will also soon support payments in First Digital USD (FDUSD). Metro’s decision to accept stablecoins comes after a partnership with crypto payment company dtcpay . According to Erwin Wuysang-Oei, the COO of Metro Department Store, this collaboration aims to position Metro at the forefront of retail innovation. Additionally, he noted that by adopting stablecoin payments, Metro is not just preparing for the future but actively shaping it. 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 blockchain analytics firm Chainalysis data, stablecoin transactions in Singapore reached nearly $1 billion in the second quarter of 2024. Adding to the sentiment, 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. Industry experts pointed out how these technologies could lessen the problems of current financial systems in cross-border payments, where fees and delays are common. Related: SCB Launches Stablecoin Service for Cross-Border Payments in Thailand While stablecoin payments have benefits, global adoption still faces issues. Regulatory roadblocks and practical problems are still obstacles to fully adding blockchain-based payments into the larger economy. Related: Stablecoins Propel Nigeria to 2nd Place in Crypto Adoption 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. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Metro Departmental Store in Singapore announced that it will cooperate with dtcpay to accept stablecoin payments, becoming the first local department store to support this payment method. Customers can use USDT, USDC and WUSD to pay in Metro physical stores and online, and FDUSD…

Singapore's Metro department store to accept stablecoin payments Singapore's Metro department store has partnered with crypto payments firm dtcpay to become the first in the country to support stablecoin payments, accepting USDT, USDC, WUSD and FDUSD, according to local media…

Bitcoin $BTC 30-Minute Chart Analysis Current Market Overview As of the latest data, Bitcoin $BTC is trading at $95,769.99, showing a -1.02% decline. The price movement has been fluctuating between a 24-hour high of $96,920.79 and a 24-hour low of $95,620.04. The trading volume in the past 24 hours has been 6.132 BTC, with a turnover of 591.33K WUSD. Technical Indicators Exponential Moving Averages (EMA) EMA(5): $95,849.84 EMA(10): $95,998.66 EMA(20): $96,165.83 $BTC The short-term EMAs indicate that the price is currently below these moving averages, signaling a possible downward trend or correction phase. Support and Resistance Levels Support Level: $95,620.04 (recent low) Resistance Level: $97,034.85 (recent high) If $BTC breaks below the support level, we may see further downside movement. On the upside, a breakout above $97,034.85 could signal a bullish trend. Trading Volume & Market Sentiment The trading volume shows an increase in activity, especially during the recent downward movement. A high trading volume in a declining trend suggests strong selling pressure. The volatility in the market indicates that $BTC is experiencing short-term price fluctuations, making it a crucial time for traders to monitor movements closely. Market Trends (Performance Over Time) Today: -0.86% 7 Days: -0.39% 30 Days: -8.61% 90 Days: +2.95% $BTC While the short-term trend shows a decline, the 90-day trend still reflects a positive outlook. Conclusion Bitcoin's current movement suggests a short-term bearish trend, with prices struggling to stay above key support levels. Traders should watch for breakouts or breakdowns at the support and resistance levels. If buying momentum increases, $BTC may recover towards $97,000. However, further declines below $95,600 could trigger additional selling pressure. Trading Strategy: Short-term traders may look for opportunities to short $BTC if it stays below the key EMAs. Long-term investors should observe if $BTC stabilizes around current levels before considering new entries.

WSPN raises $30m to expand stablecoin infrastructure $BTC Stablecoin infrastructure startup WSPN has secured $30 million in a seed round to boost its stablecoin adoption mission. Worldwide Stablecoin Payment Network — also known as WSPN — has attracted $30 million in seed funding to double down on its “Stablecoin 2.0” approach. In an Aug. 16 press release, the firm said the round was led by Foresight Venture and Folius Ventures, with participation from Hash Global, Generative Ventures, Yunqi Partners, and RedPoint China, among others. Founded by former employees of Visa and Paxos, WSPN says it has secured backing from over 30 cryptocurrency exchanges, more than 10 wallets, and a range of payment institutions and market makers, without naming them. The Singapore-based startup also boasts its own stablecoin products like WUSD and WEUR, which are backed by cash, cash equivalents, and short-term treasury bills, according to the project’s official website.