Grab and StraitsX form partnership to explore Web3 wallets and stablecoin settlements

Foresight News reported, citing Crowdfund Insider, that Grab and Singapore-based stablecoin issuer StraitsX have signed a memorandum of understanding to explore integrating a Web3-enabled wallet into the Grab app and creating a stablecoin-based clearing and settlement layer to connect GrabPay merchants with StraitsX partner wallets. Grab has already tested stablecoin payment channels through collaborations with its merchant network. The memorandum of understanding signed with StraitsX indicates that Grab is currently exploring whether stablecoin settlements can be more directly embedded into its consumer wallet and expanded beyond Singapore.