Sony to Accept USDC Payments in Singapore Through Crypto.com
Sony Electronics Accepts USDC Payments
- Sony Electronics will accept USDC stablecoin payments in Singapore via Crypto.com's payment services.
- The move supports Sony's broader push into blockchain and Web3 technologies.
- Plans to support additional cryptocurrencies in the future were announced.
- Sony launched its Ethereum Layer-2 blockchain, Soneium, earlier this year for various use cases, integrating bridged USDC as a key transaction option.
Circle Submits IPO Filing
- Circle has filed an S-1 registration with the US SEC for an Initial Public Offering on the NYSE under the symbol “CRCL”.
- The company reported $1.67 billion in revenue for 2024, a 16% increase year-over-year.
- Net income declined to $155.6 million, down 41.8% from 2023; a net loss of $761.7 million was reported for 2022.
- Circle’s market cap has increased to over $60 billion, benefiting from strong demand for USDC.
- 99% of Circle's revenue last year was derived from stablecoin reserves, primarily through yield-bearing Treasury bills.
- Circle holds $6.2 million in Bitcoin, $5.6 million in Sui, and over $3.3 million in Ethereum, along with other cryptocurrency holdings.