Grab’s Singapore Users Can Now Use Crypto to Make Payments

CoinDeskPolicyОпубліковано о 2024-03-18Востаннє оновлено о 2024-03-19

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Grab's latest move has been made possible after its tie-up with Triple-A, a firm that enables businesses to pay and get paid in digital currencies, the report added.

Singapore users can pay using five cryptocurrencies while using the super app Grab, The Straits Times reports.
Grab’s latest move has been made possible after its tie-up with payments firm Triple-A.

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Grab is letting users make payments via cryptocurrencies, the super app's crypto payments partner, Triple-A, said in a statement.

The super app offers ride-hailing, food delivery and digital payments in South Asia. It is present in eight nations in the region, but the current development appears to only apply to Singapore.

The latest move has been made possible after its tie-up with Triple-A, a firm that enables businesses to pay and get paid in digital currencies, the report added. Triple-A told the Straits Times that the crypto top-ups in GrabPay Wallet were rolled out on March 12.

“From arranging deliveries to booking rides or paying for coffee at their nearest shop, digital currency owners in Singapore can now use digital currencies for everyday transactions,” Triple-A said. The Strait Times first reported on the new payment option.

Users can pay using five cryptocurrencies – bitcoin (BTC), ether (ETH), StraitsX’s Singapore dollar-backed stablecoin XSGD, Circle’s USDC stablecoin and Tether’s USDT stablecoin.

Grab has been involved in the Web3 space for some time now. In September 2023, Grab and Circle announced plans to conduct a pilot for a Web3 wallet within the Grab super app.

The development may come as a surprise, given Singapore’s cautious approach to crypto while welcoming innovation. Its current president, Tharman Shanmugaratnam, has previously called crypto “purely speculative” and "slightly crazy.”

Grab did not immediately respond to CoinDesk’s requests for comment.

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Edited by Parikshit Mishra.

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