Grab Singapore Enables Cryptocurrency Payments

On March 19, 2024, Grab Singapore announced some exciting news for users, stating that they will now be able to make payments using cryptocurrency. Grab accepts payments in 5 types of cryptocurrencies, including BTC, ETH, USDT, USDC, and the stablecoin XSGD. Users can top up their GrabPay wallets with these 5 cryptocurrencies to facilitate transactions.

Grab's Singapore users can now pay on the super app using five cryptocurrencies. The option was made available after Grab and after its tie-up with payments firm Triple-A tied up. By @amitoj https://t.co/KZVIGDaeHL

— CoinDesk (@CoinDesk) March 19, 2024

A noteworthy aspect is that this feature was made possible through a partnership with Triple-A, a company enabling businesses to accept cryptocurrency payments.

Grab shared in a press statement:

We have collaborated with the licensed payment service provider Triple-A to allow users to top up their GrabPay wallets with cryptocurrency tokens. This feature is now available in Singapore.

Currently, the 5 accepted cryptocurrencies are BTC, ETH, USDT, USDC, and the stablecoin XSGD, linked to the Singapore dollar issued by StraitsX.

Triple-A stated:

From ordering deliveries to booking rides or paying for a cup of coffee, the cryptocurrency community in Singapore can now use these currencies for daily transactions.

Introduction to Grab

Grab Holdings Inc., also known as Grab, is a technology company headquartered in Singapore. The company provides transportation, delivery, and digital payment services in Singapore and other Southeast Asian countries such as Malaysia, Indonesia, the Philippines, Vietnam, Thailand, Myanmar, and Cambodia.

Grab was founded in June 2012 in Kuala Lumpur, Malaysia, before relocating its headquarters to Singapore in 2014. Grab’s main products and services include GrabTaxi, GrabCar, GrabBike, GrabHitch, GrabFood, GrabExpress, and GrabPay.

The company has experienced significant growth and expanded its operations to numerous cities, creating economic opportunities and positively impacting society in the Southeast Asian region. Grab is committed to ensuring safety and security for users, as well as being adaptable in responding to situations such as the COVID-19 pandemic to support the community.

Last year, Grab made strides in the web3 space by partnering with Circle to integrate Web3 wallets into its app, and later collaborating with Axie Infinity to provide rewards to users in the Philippines.