Grab and StraitsX Partner to Explore Web3 Wallets and Stablecoin Payments in Southeast Asia
Grab, Southeast Asia's largest super-app, has signed a memorandum of understanding (MOU) with Singapore-based stablecoin provider StraitsX to develop Web3 wallet integration and stablecoin payment solutions. The collaboration aims to embed Web3 wallets directly within the Grab app, enabling users to hold and spend StraitsX stablecoins like XSGD and XUSD for everyday transactions.
Merchants stand to benefit from programmable settlement features and reduced payment processing fees compared to traditional card networks. The proposed system could streamline cross-border payments across eight Southeast Asian markets if regulatory approvals are secured. StraitsX will provide technical infrastructure for smart contract-based payment processing and currency conversion services.
