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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.

By Jamie Crawley
AccessTimeIconSep 14, 2023 at 8:51 a.m. UTC
Jeremy Allaire (CoinDesk)
Jeremy Allaire (CoinDesk)
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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.

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.

Edited by Sheldon Reback.

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

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