Based on PANews, Southeast Asian ride-hailing giant Grab has signed a memorandum of understanding with Singapore-based stablecoin platform StraitsX to develop a Web3 wallet and stablecoin settlement network for the Asian market. The collaboration aims to integrate the Web3 wallet into the Grab App, allowing GrabPay merchants to accept stablecoins such as XSGD and XUSD, enabling cross-border, real-time, and compliant settlements. The system will incorporate smart contracts and on-chain fund management, with all user assets held in non-custodial wallets to meet regulatory requirements.
Grab and StraitsX to Build Web3 Wallet and Stablecoin Settlement Network
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