Circle and Grab aim to open Web3 doors to Singaporeans.
Stablecoin issuer Circle revealed its latest collaboration with Grab, Southeast Asia's tech juggernaut, to pilot various Web3 services.
Known as the "Grab Web3 Wallet," the service is now available to users in Singapore, marking a significant move toward digital assets and smart contract adoption in the region.
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Through the integration of Circle's newly introduced Web3 Services platform, Grab is taking the plunge into the digital asset ecosystem. Eligible users in Singapore can now set up a blockchain-enabled wallet through their Grab app.
Not only can they earn rewards and collectibles, but they can also take advantage of non-fungible token (NFT) vouchers. One of the highlighted offerings includes SG Pitstop Pack NFT vouchers, accessible at popular stores during the F1 Singapore Grand Prix.
Jeremy Allaire, Circle's co-founder and CEO, expressed his enthusiasm about the collaboration.
Circle is focused on partnering with global-scale consumer internet brands to bring everyday utility to users. Piloting our technology with Grab’s customers brings us closer to realizing the full potential of responsible digital assets innovation.
The pilot project with Grab aligns with Circle's broader strategy of establishing a strong foothold in Singapore. Earlier this year, the company obtained a Major Payment Institution license from the Monetary Authority of Singapore following the official inauguration of its office in May.
Circle's Chief Strategy Officer (CSO), Dante Disparte, claims that the new collaboration will help to power blockchain-based innovation in Singapore.
Circle is thrilled to partner with Grab to accelerate the adoption of blockchain-powered innovation and support Singapore’s forward-thinking vision as a leading global hub for responsible digital asset innovation.
Founded in 2012 and initially known as MyTeksi, Grab is based in Singapore and has rapidly become a leading multi-service app featuring ride-hailing, food delivery, and digital payment services.
With a presence in multiple Southeast Asian countries like Malaysia, Cambodia, Indonesia, Myanmar, the Philippines, Thailand, and Vietnam, the company claims to cater to more than 187 million users across 330 cities. This new venture into Web3 services places Grab at the forefront of digital innovation in the region.
