Grab Partners with Circle to Bring Web3 and Crypto to Southeast Asia
Grab, the leading super app in Southeast Asia, has announced a partnership with Circle, the leading provider of USD Coin (USDC), to bring Web3 and crypto to its 180 million registered users.
Under the partnership, Grab will integrate Circle's USDC wallet into its app, allowing users to buy, sell, store, and use USDC for a variety of purposes, including payments, investments, and gaming. Grab will also explore the use of other Circle products and services, such as USDC stablecoin issuance and Circle Yield, a suite of DeFi products.
"We are excited to partner with Circle to bring Web3 and crypto to Southeast Asia," said Ming Maa, Grab's CEO. "This partnership will enable us to provide our users with more choice and flexibility in how they pay and manage their money."
"We are thrilled to partner with Grab to bring Web3 and crypto to Southeast Asia," said Jeremy Allaire, CEO of Circle. "Grab is a leading digital payments and financial services platform in the region, and this partnership will help us to onboard millions of new users to the world of Web3."
The partnership between Grab and Circle is a significant step in the adoption of Web3 and crypto in Southeast Asia. The region is home to a large and growing population of young, tech-savvy users who are open to new technologies. Grab's platform already offers a wide range of services, including ride-hailing, food delivery, and payments. The integration of Web3 and crypto will allow Grab to offer its users even more options and convenience.
This partnership is also a sign of the growing interest in Web3 and crypto from traditional financial institutions. Grab is a major player in the financial services industry in Southeast Asia, and its partnership with Circle is a validation of the potential of Web3 and crypto.
The integration of Web3 and crypto into Grab's app is expected to start in Singapore in the coming months. The partnership will then be rolled out to other markets in Southeast Asia.
This is a major development for the adoption of Web3 and crypto in Southeast Asia. Grab is a leading platform with a large and engaged user base. The integration of Web3 and crypto into its app will make it easier for users to access and use these technologies. This is likely to lead to a surge in the adoption of Web3 and crypto in the region.