Grab has entered into a new partnership with StraitsX to explore the creation of a Web3-powered financial ecosystem within the Grab super-app. Through this collaboration, both companies aim to develop a digital wallet that supports stablecoins and a blockchain-based settlement layer designed to improve the speed, transparency, and efficiency of payments across Asia.
The agreement sets the foundation for integrating stablecoins such as XSGD and XUSD into everyday transactions on Grab. This means users could eventually make purchases, pay for services, and transfer value using regulated digital currency that is pegged to stable fiat assets. By using smart contracts and blockchain rails, the system is expected to enable instantaneous, cross-border settlement—reducing delays typically seen in traditional payment networks.
StraitsX will take the lead in building the Web3 wallet infrastructure, which will allow users to store, send, and convert between fiat and stablecoins in a compliant and secure environment. Merchants on GrabPay may benefit as well, receiving tools for automated settlement, improved liquidity management, and lower transaction costs through programmable financial operations.
The planned settlement network aims to address long-standing challenges in Southeast Asia’s fragmented payment landscape. By creating a unified layer that supports both consumers and merchants, Grab and StraitsX hope to pave the way for a more inclusive regional financial system—one that works seamlessly across borders, reduces complexity, and supports the growing digital economy.
Overall, the initiative represents a significant step toward bringing Web3 technology into mainstream everyday use, potentially transforming how millions of people in Asia handle payments, transfers, and digital value.
Source: Cryptonews Edited by Sonarx