Grab deepens stablecoin push with StraitsX Web3 wallet and settlements

Southeast Asian super app Grab’s MOU with StraitsX shifts its Web3 efforts from pilots to infrastructure, exploring a unified stablecoin settlement layer across Asia.

Grab, Southeast Asia’s largest super-app, is taking a deeper step into stablecoin infrastructure with a new exploratory agreement with StraitsX, a Singapore-based stablecoin issuer.

The two companies announced on Tuesday that they had signed a memorandum of understanding (MOU) to develop a Web3-enabled settlement layer that brings digital asset wallets, programmable payments and stablecoin-based clearing into everyday consumer experiences. 

If approved by regulators and implemented, the system would allow Grab users to hold and spend StraitsX-issued tokens like XSGD and XUSD directly within the app, which is available in Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines, Cambodia and Myanmar.

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