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- Popular ride-hailing app Grab said users in Singapore can top up their wallets with cryptocurrency.
- The company said it will “monitor user adoption” and “respond to demand” for those services.
Grab, the popular ride-hailing super app in Southeast Asia, has started allowing users to add cryptocurrency to their wallets in Singapore through a partnership with payments company Triple-A.
According to local newspaper The Straits Times, GrabPay Wallet currently allows users to pay with cryptocurrencies such as bitcoin , ether and stablecoins including XSGD, USDC and USDT .
A Grab spokesperson said in a statement Chia with The Block: “This new feature gives users more flexibility and convenience as it allows them to convert their digital assets, for example such as stablecoins, which can be converted into money for use in their GrabPay Wallet.”
Grab monitors the adoption of cryptocurrency payments
The spokesperson added that while Grab has established a strong presence across Southeast Asia, cryptocurrency payment options are currently only available in Singapore and “will continue to monitor its adoption.” users and meet the needs for those services”.
Grab has also started combining web3 services with non-fungible Token ( Non-Fungible Token ) wallets. In June last year, it signed up to participate in a pilot study with the Monetary Authority of Singapore around the use of three types of digital assets including central bank digital currencies, bank deposits encrypted and stablecoin.
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