Grab and StraitsX Plan Web3 System for Stablecoin Payments

• Grab and StraitsX plan a Web3 settlement layer using stablecoins for regional payments.
• The proposal lets users store and spend XSGD and XUSD directly inside the Grab super-app.
• The partnership targets lower cross-border costs through a unified stablecoin infrastructure.

Grab is moving deeper into stablecoin infrastructure through a new exploratory agreement with Singapore-based issuer StraitsX. The companies announced a memorandum of understanding to create a Web3-enabled settlement layer that supports digital asset wallets, programmable payments, and stablecoin-based clearing. 

The initiative aims to bring these functions into everyday transactions across the super-app’s regional markets. If approved, the system may change how the platform handles payment flows.

Grab Moves to Enable In-App Use of StraitsX Stablecoins

The proposal would let Grab users hold and spend StraitsX tokens, such as XSGD and XUSD, inside the app. The feature would apply in Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines, Cambodia, and Myanmar. The companies stated that the plan could reshape cross-border retail payments by reducing friction in consumer transactions.

StraitsX co-founder and CEO Tianwei Liu said the region’s digital economy is expanding, yet payment systems remain fragmented. He noted that the partnership intends to support the region’s digital growth by improving settlement structures. Both firms view stablecoin rails as a possible foundation for future financial infrastructure.

Grab has previously trialed systems that are connected through the blockchain. The company did pilots to look at how users react to getting blockchain rewards and integrating Web3 wallets. These trials contributed to the evaluation of adoption and technical performance in the market.

Grab teamed up with Circle to conduct Web3 exploration in Singapore in 2023. These were: setting up a blockchain wallet, earning a reward, and using NFT vouchers. The testing period provided a glimpse into how users would use on-chain tools within a mainstream application.

In 2024, Grab allowed users to add money to their GrabPay wallet using cryptocurrencies and stablecoins. This choice increased the versatility of payment and provided opportunities to utilise digital assets.

Grab formed a partnership with Natix, a decentralized physical infrastructure network built on Solana. The collaboration linked Natix’s blockchain mapping system with Grab’s camera hardware and mapping technology. The move demonstrated further testing of on-chain applications beyond payments.

Grab Shifts Toward Unified Onchain Settlement Strategy

The StraitsX agreement marks a shift from isolated pilots to a wider strategic direction. The companies indicated that they aim to identify the stablecoin infrastructure that could support Grab’s long-term settlement needs. The plan reflects interest in developing a unified on-chain layer for all major markets in the region.

Grab Financial head Kell Jay Lim said Web3 systems may improve cross-border retail payments. He added that the collaboration seeks to address issues faced by merchants and consumers who handle varied payment rails. The companies emphasised that the focus is on practical settlement improvements rather than speculative use cases.

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A key component of the plan is a Web3 wallet inside the Grab app. Users would be able to convert between fiat and stablecoins, perform cross-border payments, and receive funds from external Web3 wallets. The system would aim to reduce reliance on traditional intermediaries.

Merchants would receive Web3-ready wallets with programmable settlement features. These tools could offer on-chain treasury management and real-time clearing. The companies said these functions may reduce costs tied to card networks and ease liquidity pressures.

The project still requires regulatory approval in each jurisdiction. Southeast Asian markets vary in their approaches to stablecoins, e-money, and digital asset regulation. These differences must be addressed before a full rollout begins.

Despite regulatory hurdles, the intention behind the agreement is clear. The companies want to build an interoperable settlement layer that replaces existing fragmented systems. Their focus remains on improving efficiency in cross-border flows through stablecoin infrastructure.