Bitcoin
$37,723.17-0.37%
Ethereum
$2,050.14+0.99%
Binance Coin
$227.56+0.59%
XRP
$0.60569862-0.62%
Solana
$59.22-0.07%
Cardano
$0.37566647-1.61%
Dogecoin
$0.08316627+3.43%
Tron
$0.11152668+3.46%
Toncoin
$2.45+0.75%
Chainlink
$14.39-0.90%
Avalanche
$21.35+1.69%
Polkadot
$5.44+5.88%
PlayIconNav
Crypto Prices CoinDesk Market Index CoinDesk Market Index
Web3

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)

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups 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, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley
Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.