Grab and USD Coin (USDC) Join Forces for Groundbreaking Web3 Services in Singapore
Grab, the prominent Southeast Asian super app and the region’s largest tech startup, has initiated a pilot program for Web3 services in collaboration with USD Coin (USDC) in Singapore.
Circle, the stablecoin operator, announced this partnership on September 14, unveiling the “Grab Web3 Wallet” for Singapore-based Grab users. This integration involves Circle’s new Web 3 Services platform within the Grab app, aimed at helping traditional companies embrace stablecoins, digital assets, and smart contracts. Eligible users of the Grab app can now establish blockchain-enabled wallets, earn rewards, collectibles, and utilize nonfungible token (NFT) vouchers as part of this pilot.
The Grab Web3 Wallet is already offering SG Pitstop Pack NFT vouchers for popular stores during the upcoming F1 Singapore Grand Prix. Circle’s co-founder and CEO, Jeremy Allaire, expressed enthusiasm about major Web2 companies like Grab embracing blockchain technology and noted the partnership’s potential for responsible digital asset innovation. Grab, initially founded as MyTeksi in 2012, operates as a multinational technology company headquartered in Singapore, offering a super app for ride-hailing, food delivery, and digital payments across Southeast Asian countries.
Circle’s partnership with Grab in Singapore further expands its presence in the country, following the acquisition of a Major Payment Institution license from the Monetary Authority of Singapore in June 2023, along with previous collaborations supporting local Web3 development.
Clever Robot News Desk 15th September 2023
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