Grab, Southeast Asia’s largest super-app, partners with StraitsX to explore a Web3-enabled settlement layer for digital asset wallets and stablecoin-based clearing. If approved, Grab users in Southeast Asia could hold and spend XSGD and XUSD directly within the app, potentially reshaping cross-border retail payments in the region.

Grab has a history with stablecoins, previously partnering with Circle for Web3 experiences and allowing users to top up GrabPay wallets with crypto and stablecoins. A recent partnership with Natix in Solana combines blockchain mapping with Grab’s camera technology. The new deal with StraitsX signals a broader ambition for Grab’s payment flows.

The proposed Web3 wallet in the Grab app would enable cross-border payments, fiat-to-stablecoin conversions, and receipt of funds from external Web3 wallets. Merchants would receive Web3-compatible wallets for programmable settlement and real-time clearing, potentially reducing fees compared to traditional networks. Regulatory clearances will be necessary across jurisdictions for the initiative to succeed.

The goal of the Grab-StraitsX partnership is to create an interoperable settlement layer that replaces siloed, high-cost cross-border flows. While regulatory hurdles remain, the intention is clear: to revolutionize cross-border payments in Southeast Asia and beyond.

Read more at Cointelegraph: Grab Super App Eyes Stablecoin Settlement With StraitsX