FOMO Pay Launches the First Cryptocurreny Payment Solution for Singapore's Retailers

Retailers in Singapore can now accept digital payment tokens (DPT), through a new cryptocurrency (crypto) payment solution introduced by Singapore-based Major Payment Institution FOMO Pay. The new payment method targetted at retailers is the first such to be developed by a Digital Payment Token (DPT) licensee in Singapore.

FOMO Pay has begun implementing its new solution with luxury retailers – such as EuroSports Auto, 2ToneVintage, and Luxehouze, amongst others – in compliance with regulations.

Louis Liu, Founder and Chief Executive Officer at FOMO Pay, shared, "The rise in the adoption of cryptocurrency has opened up more avenues for consumers in the way they make their payments. FOMO Pay aims to gear our merchants with crypto acceptance, allowing them to support more payment methods. This brings us one step closer towards our mission to build Asia's first licensed gateway that connects businesses with fiat and crypto."

Through a comprehensive range of crypto payment options, retailers will be able to accept a range of different cryptocurrencies, including but not limited to Bitcoin, Ethereum, USDT, and USDC.

In addition to being Singapore's first DPT licensee, FOMO Pay is also part of the DBS Digital Exchange ecosystem. Through strategic partnerships and leveraging technologies from trusted partners such as crypto wallet imToken and predictive blockchain monitoring platform Merkle Science, FOMO Pay has created a secure environment for retailers to use the new solution.

Source: The Korea Herald