Ride-hailing service, Grab, has expanded cryptocurrency payment options for users through a partnership with Triple-A, a leading company in the payments industry.
According to Straits Times, Grab users have found a new payment option when accessing GrabPay Wallet. Bitcoin, Ether and three stablecoins including XSGD, USDC and Tether (USDT) can now be used to pay via GrabPay Wallet. This is considered one of Grab's major efforts to integrate cryptocurrency payments in daily transactions.
Triple-A, a licensed company in Singapore, confirmed that the new feature has been deployed since March 12. They are also responsible for converting cryptocurrencies to USD in transactions, helping to promote cryptocurrency payments.
The partnership between Grab and Triple-A not only introduces cryptocurrency as a new payment method, but also reflects the growing trend of integrating digital assets into the financial market.
Previously, Grab shared plans to test pre-programming and its application in Singapore. Partner in this project, Circle - a famous company in the fintech field, has joined Grab to test deploying a blockchain wallet to manage digital assets.
Earlier this year, Triple-A also partnered with AXS, a popular bill payment platform, to enable residents to use four cryptocurrencies – Bitcoin, Ether, USDT and USDC – for 550 of the 600 AXS payment service.
Several other companies such as iStudio, Farfetch and Charles & Keith have also partnered with Triple-A to begin accepting cryptocurrencies in Singapore, expanding the services and availability of the new asset class to users. .
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