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Superapp Grab, Stablecoin Issuer Circle to Start Web3 Wallets Trial in Singapore
The Grab Web3 Wallet will be available to users of the ride hailing, food delivery and digital payments app to use vouchers in non-fungible token (NFT) form and earn rewards.
SINGAPORE — Grab (GRAB) and stablecoin operator Circle plan to conduct a pilot for a Web3 wallet within the Grab superapp.
The Grab Web3 Wallet will be available to users of the ride hailing, food delivery and digital payments app in Singapore to use vouchers in non-fungible token (NFT) form and earn rewards and collectibles, the companies said. The first stage of the pilot will be during the Singapore Grand Prix on Sept. 17.
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Grab has around 180 million users, making it one of the most popular consumer apps in Southeast Asia. Circle operates the USD Coin (USDC) stablecoin, whose value is pegged 1:1 to the U.S. dollar.
"I think it’s gonna be very easy for us to imagine a world next year where we can take a billion users and have access to Web3, and therefore have access to transacting stablecoins," Circle CEO Jeremy Allaire said at Token2049 in Singapore.
Read More: Coinbase Gets a Stake in Stablecoin Operator Circle and USDC Adds 6 New Blockchains
Amitoj Singh contributed reporting.
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