Grab and StraitsX Connect Web2 and Web3 Through Stablecoin Transactions

Grab Expands Stablecoin Strategy Through StraitsX Web3 Wallet and Settlement Solutions

The leading superapp in Southeast Asia,

, has made a major move into the stablecoin sector by entering into a memorandum of understanding (MOU) with StraitsX, a Singaporean stablecoin provider, to build a Web3-powered payment system throughout Asia. , the partnership seeks to bring digital asset wallets and stablecoin settlements into daily transactions, utilizing StraitsX’s institutional-grade stablecoins such as XSGD and to facilitate cross-border transfers.

This project features two main elements: a Web3-integrated wallet within the Grab platform and a stablecoin-based payment network to simplify settlement and clearing across different regions

. StraitsX will provide technical support for the wallet’s development, allowing Grab users to use stablecoins for transactions and possibly switch between fiat and other stablecoins within the app . For businesses, the solution offers programmable settlement options and on-chain treasury management tools to improve liquidity .

Although Southeast Asia’s digital economy is expanding quickly,

like disjointed payment networks, steep transaction costs, and limited ability for cross-border transactions. Grab and StraitsX are working to solve these problems by providing instant, transparent foreign exchange settlements, which could lower expenses for both shoppers and businesses compared to legacy card systems . The partnership also stresses adherence to anti-money laundering (AML) and counter-terrorism financing (CTF) standards, aiming to minimize risks associated with digital asset adoption .

emphasized that the collaboration could deliver a financial network that is “faster, more affordable, more accessible, and compliant with regulations.” Kell Jay Lim, who leads Grab Financial, agreed, noting that Web3 solutions could enhance cross-border retail payments while preserving a familiar interface for users . This effort builds on Grab’s earlier blockchain initiatives, such as a 2023 pilot with Circle and a 2024 feature enabling crypto top-ups for GrabPay .

The stablecoin sector,

, is expected to reach $4 trillion by 2030. Grab’s move into this field reflects broader shifts in Asia, where financial institutions are reimagining infrastructure as tokenized assets gain traction. Recent milestones, including OKX Singapore’s stablecoin payment rollout at GrabPay merchants and the Monetary Authority of Singapore’s new settlement platform, highlight the region’s evolving financial landscape .

Despite ongoing regulatory complexities—each country has its own rules for stablecoins and digital assets—

toward creating interoperable, blockchain-based settlement systems. If successful, the initiative could help establish Southeast Asia as a leader in regulated digital asset innovation, connecting traditional and Web3 financial services .