8 months ago
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Grab's entry into the crypto space could signal a shift in Singapore's stance on crypto.
Southeast Asia’s leading super-app Grab is partnering with Triple-A, a licensed payments provider, to enable crypto payments, according to a recent report from The Straits Times. Users can fund their GrabPay Wallet using Bitcoin (BTC), Ethereum (ETH), Singapore dollar-backed stablecoin XSGD, US dollar-backed Circle-managed stablecoin USDC, and Tether USDT.
Triple-A shared that from deliveries to booking rides or paying at stores, crypto owners in Singapore now have an additional option for everyday transactions.
According to Grab’s statement, the new feature is currently only available in Singapore, but Grab will continue to evaluate and expand based on user feedback.
“Grab has partnered with licensed payments provider Triple-A to enable users to top up their GrabPay Wallet via Digital Payment Tokens. Currently available in Singapore, Grab will continue to monitor user adoption and respond to demand for such services,” stated Grab.
Grab is present in multiple countries in Southeast Asia, most notably Singapore. The latest move not only marks Grab’s entry into the Web3 space but also marks a significant development for Singapore’s crypto industry. Singapore has taken a cautious approach to crypto. President Tharman Shanmugaratnam previously described crypto as “purely speculative” and “slightly crazy.”
In September 2023, Grab announced plans to pilot a Web3 Wallet within their app alongside Circle.
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