The partnership between Grab and StraitsX aims to create an interoperable, Web3-enabled payments network across the region.
Stablecoin-native settlement StraitsX and Grab have signed a strategic Memorandum of Understanding (MoU) to explore the development of a Web3-enabled payments infrastructure across Asia, aiming to integrate stablecoin settlement and digital asset wallets into everyday consumer transactions.
The initiative will focus on two pillars: a Web3-connected wallet embedded within the Grab app, and a stablecoin-based settlement layer designed for compliant, efficient, real-time cross-border payments.
Under the MoU, StraitsX will support the technical build-out of Web3 Wallets inside the Grab platform, enabling compliant custodial services, programmable payment functions, and smart-contract-based clearing and settlement. The collaboration will also assess requirements to equip merchants with Web3-compatible wallets seamlessly integrated with existing GrabPay infrastructure, allowing stablecoin acceptance without altering the familiar merchant experience.
Subject to regulatory approval, the partnership may allow Grab users to hold and transact with StraitsX-issued stablecoins such as XSGD and XUSD, and potentially convert between fiat and other stablecoins within the app. The network is designed to address Southeast Asia’s fragmented payments landscape by offering FX-transparent, real-time cross-border settlement and reducing reliance on costly card-based systems.
Tianwei Liu, Co-Founder and CEO of StraitsX, said: “By uniting Grab’s scale with StraitsX’s established stablecoin infrastructure and partner network, we can deliver a financial network that is faster, cheaper, more inclusive, and regulatory-compliant.”
Kell Jay Lim, Head of Grab Financial, added: “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 solve these problems for our consumers and merchants.”
The initiative sets the foundation for a unified, interoperable Web3 payment layer across Asia.
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