The Straits Times states that the mobile app Grab in Singapore now accepts five different cryptocurrencies as payment.
The partnership between Grab and payments company Triple-A has allowed for their most recent initiative.
According to a statement from Grab's crypto payments partner Triple-A, the blockbuster app is now accepting cryptocurrency payments.
In South Asia, the super app makes it easy to order meals, pay for it digitally, and hail a ride. Although it is prevalent in eight of the region's nations, it seems that only Singapore is affected by the current development.
Users can now load their GrabPay Wallets with Digital Payment Tokens thanks to a partnership between Grab and Triple-A, a regulated payments provider. According to Grab, they will keep an eye on how many people use their service and adjust their offerings based on demand. The service is already available in Singapore.
Bitcoin (BTC), Ethereum (ETH), StraitsX's Singapore dollar-backed stablecoin XSGD, Circle's USDC stablecoin, and Tether's USDT stablecoin are the five cryptocurrencies that users can use to make payments.
Participants in Singapore can now utilize digital currencies for mundane transactions, such as ordering deliveries, reserving rides, or purchasing coffee from their local shop," Triple-A announced. News about the new method of payment broke first in The Strait Times.
Grab has been active in the Web3 market for a while. Grab and Circle revealed their intention to test a Web3 wallet inside the Grab super app in September 2023.
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