Grab, partners with StraitsX…"Expanding stablecoin services"

Grab, known as the Uber of Southeast Asia, is strengthening collaboration with stablecoin payment platform StraitsX to expand stablecoin services.

StraitsX said on the 18th (local time) that it had signed a strategic memorandum of understanding (MOU) with Grab to develop Web3 payment infrastructure in Asia. A StraitsX official said, "(The partnership) aims to make digital asset wallets and stablecoin payments an everyday consumer experience across Asia," and added, "It plans to directly support Web3 wallet technology development within the Grab platform."

Under the partnership, Grab users will be able to use StraitsX's stablecoins XSGD and XUSD in the Grab application (app). Tianwei Liu, CEO of StraitsX, said, "Southeast Asia is one of the fastest-growing digital economy regions in the world, but payment systems remain fragmented," and "This partnership will accelerate the growth of the Southeast Asian digital economy."