According to a statement from Triple-A, the super app’s cryptocurrency payments partner, Grab is now accepting cryptocurrency payments from users.
In South Asia, the super app provides digital payments, food delivery, and vehicle hailing services. It is found in eight countries in the region, although it seems that the current development is limited to Singapore.
“Users can now add funds to their GrabPay Wallets using Digital Payment Tokens thanks to a partnership between Grab and Triple-A, a licenced payment provider. Grab stated in a statement that it is currently accessible in Singapore and would keep an eye on user adoption as well as address customer demand for these kinds of services.
Five different cryptocurrencies are available for payment: bitcoin (BTC), ether (ETH), circle’s USDC stablecoin, Tether’s USDT stablecoin, and StraitsX’s Singapore dollar-backed stablecoin, XSGD.
“Digital currency owners in Singapore can now use digital currencies for everyday transactions, such as scheduling deliveries, scheduling rides, or paying for coffee at their local shop,” stated Triple-A. First to report on the new payment option was The Strait Times.
Grab has a long history of involvement in the Web3 domain. Grab and Circle announced in September 2023 that they will be conducting a Web3 wallet experiment within the Grab super app.
Given Singapore’s cautious stance towards cryptocurrencies while encouraging innovation, the development might come as a surprise. Cryptocurrency has previously been referred to as “purely speculative” and “slightly crazy” by its current president, Tharman Shanmugaratnam.