Sony Adopts USDC Payments in Singapore Soon After Circle IPO Filing

Key Notes

• Circle has submitted its IPO filing to the SEC, planning to list on the New York Stock Exchange (NYSE) under the symbol CRCL.
• The company reported $1.67 billion in revenue for 2024, with USDC market cap doubling to over $60 billion, over the past year.
• Over 99% of Circle’s revenue came from stablecoin reserves and yield-bearing Treasury bills .

Tech giant Sony Electronics announced that it would accept USDC stablecoin payments in Singapore, with transactions facilitated through Crypto.com’s payment services. The announcement comes at a time when USDC issuer Circle submitted an S-1 filing to the US Securities and Exchange Commission (SEC) to launch its own Initial Public Offering (IPO).

Speaking on this news, Chin Tah Ang, General Manager of Crypto.com Singapore, said:

“We’re pushing to make paying in crypto more mainstream.”

Currently limited to one cryptocurrency, Sony stated that it plans to support more in the future. This move aligns with the company’s broader push into blockchain and Web3 technologies across its global operations.

Earlier this year in 2025, Sony debuted its Ethereum Layer-2 blockchain Soneium to support different use cases such as creator tools, digital collectibles, etc. to drive in-game economics. During its testing phase in September, Soneium integrated support for bridged USDC, establishing it as a key transaction option for apps built on the network.

Circle Submits IPO Filing to US SEC for NYSE Listing

USDC stablecoin issuer Circle submitted its IPO filing to US SEC to go public on the New York Stock Exchange (NYSE). As per the Form S-1 registration filed with the SEC on April 1, the USDC issuer will list its Class A common stock under the symbol “CRCL”.

The filing revealed that Circle generated $1.67 billion in revenue for 2024, marking a 16% year-over-year increase. However, net income dropped to $155.6 million, a 41.8% decline from 2023, while the company reported a $761.7 million net loss in 2022.

Over the last year, Circle;’s market cap has nearly doubled to over $60 billion, following a strong demand for the stablecoin. Additionally, Circle has an edge over its rival Tether in the European market, being a stablecoin with MiCA compliance.

Related article: Major Regulatory Win: Circle's USDC, EURC Become First Regulated Stablecoins in Dubai Financial HubThe filing revealed that over 99% of Circle’s revenue last year came from its stablecoin reserves, with the company earning income through yield-bearing Treasury bills.

Circle also holds $6.2 million in Bitcoin

BTC $84 675

24h volatility: 0.7%

Market cap: $1.68 T

Vol. 24h: $30.38 B

, $5.6 million in Sui

SUI $2.38

24h volatility: 0.0%

Market cap: $7.71 B

Vol. 24h: $1.07 B

, and over $3.3 million in Ethereum

ETH $1 873

24h volatility: 0.7%

Market cap: $226.04 B

Vol. 24h: $15.81 B

, along with holdings in Sei

SEI $0.17

24h volatility: 3.1%

Market cap: $840.35 M

Vol. 24h: $82.60 M

, Aptos

APT $5.29

24h volatility: 1.7%

Market cap: $3.20 B

Vol. 24h: $144.28 M

, and Optimism

OP $0.74

24h volatility: 3.8%

Market cap: $1.19 B

Vol. 24h: $118.92 M

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