Grab and StraitsX collaborate to develop web3 wallets and stablecoin settlement across Asia
Grab and StraitsX are partnering to integrate web3 wallets and stablecoin payments for efficient cross-border transactions across Asia.Summary
Southeast Asia super-app Grab has signed a strategic memorandum of understanding with StraitsX to develop a web3-enabled payments network across Asia. This collaboration aims to integrate web3 wallets into the Grab app and establish a stablecoin-based payment network, potentially allowing Grab users to hold and spend StraitsX stablecoins like XSGD and XUSD for efficient cross-border settlements, pending regulatory compliance. StraitsX CEO Tianwei Liu stated the goal is to combat payment fragmentation and high costs in the region by leveraging Grab's scale and StraitsX's stablecoin infrastructure. The initiative promises faster, cheaper, and more inclusive transactions, offering merchants programmable settlement features and users seamless engagement with the digital asset economy within the familiar Grab platform.
(Source：Crypto Briefing)