Grab, the popular super-app in Southeast Asia, has signed an agreement with StraitsX to explore creating a new web3-based payment system. This system could help make digital payments easier and faster across Asia, the companies said on Tuesday.
The partnership focuses on adding web3 wallets directly into the Grab app. This would allow users to make digital payments using new technology. The companies also want to build a payment network that uses stablecoins, making transactions faster and more reliable across different countries.
The goal is to improve the digital payment experience for both shoppers and businesses. By using stablecoins, payments can be quicker and cross-border transfers can become easier. At the same time, the system will follow strict rules to prevent money laundering and terrorism financing.
If everything meets regulatory requirements, Grab users may be able to store and use StraitsX stablecoins like XSGD and XUSD inside the app. These digital coins are designed to stay stable in value and support safe, fast transfers across borders.
The plan also includes allowing users to switch between regular money (fiat) and different stablecoins directly through the Grab app. This would give people more flexibility and make international payments smoother and more convenient.
Tianwei Liu, Co-Founder and CEO of StraitsX, said the partnership is meant to solve problems like disconnected payment systems, expensive transaction fees, and the difficulty of making smooth cross-border payments in Southeast Asia’s rapidly growing digital economy.
“Southeast Asia is one of the world’s fastest-growing digital economies, but payments remain fragmented and costly,” Liu said in a statement. “By uniting Grab’s scale with StraitsX’s established stablecoin infrastructure, proven track record in market expansion, and network of partners across broader Asia, we can deliver a financial network that is faster, cheaper, more inclusive, and regulatory-compliant.”
The web3-enabled wallet will let Grab users in different countries easily take part in the digital asset economy. They will be able to make cross-border payments and transfer money directly from their existing web3 wallets, all from one unified platform.
“Grab sees potential for web3 technologies to improve cross-border retail payments while providing a familiar experience for users. We look forward to working with StraitsX to bring their capabilities and expertise to bear in solving these problems for our consumers and merchants,” said Kell Jay Lim, Head of Grab Financial.
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