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Singapore’s pioneering super app Grab is now offering its users the ability to make payments with cryptocurrencies. According to recent news, thanks to Grab’s strategic partnership with Triple-A, users can now carry out transactions using five different cryptocurrencies.
Users Can Now Pay with Cryptocurrency
As per Triple-A, Grab’s partner in crypto payments, Grab is now enabling its users to make payments with cryptocurrencies. This reflects Grab’s innovative and customer-centric approach.
Grab is a leading platform in Southeast Asia for ride-hailing, food delivery, and digital payments. However, this new step is currently only applicable to users in Singapore. Nevertheless, Grab’s move indicates that similar developments could occur in other countries in the region.
Officials from Grab stated, “Grab has partnered with the licensed payment provider Triple-A to allow users to load their GrabPay Wallets with cryptocurrencies. Currently available in Singapore, Grab will continue to monitor user adoption and respond to demand for such services.”
Support for Five Cryptocurrencies
Users can now make payments with five different cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), the Singapore dollar-backed stablecoin XSGD, Circle’s stablecoin USDC, and Tether’s stablecoin USDT. This development is significant as it represents the adoption of the crypto world by a major platform like Grab and offers users more options in this area.
Triple-A stated, “Crypto owners in Singapore can now use their cryptocurrencies for a variety of daily transactions, from arranging deliveries to booking vehicles or paying for coffee at the nearest store.”
Grab has been active in the Web3 space for some time. In September 2023, Grab and Circle announced plans for a pilot application of a Web3 wallet within the Grab super app. Considering Singapore’s interest in innovation, this development might come as a surprise given its cautious approach to crypto. The current chairman, Tharman Shanmugaratnam, had previously described crypto as “entirely speculative” and “somewhat crazy.”
