Grab and StraitsX have confirmed a new deal to explore building Web3-powered payment tools across Asia, the companies said on Tuesday.
The plan focuses on bringing digital asset wallets and stablecoin payments into everyday transactions on the Grab app. If everything gets approved by regulators, users could one day hold and spend stablecoins like XSGD and XUSD directly through Grab, and merchants could accept these payments across different Asian markets.
Under the agreement, StraitsX will help build the Web3 wallet technology inside the Grab platform. This includes smart contract-based tools for handling payments, clearing, and settlement. The idea is simple: let people pay with stablecoins through a Web3 wallet, while giving GrabPay merchants a smoother and cheaper way to accept payments from both local and international users.
If the rollout goes ahead, users may also be able to switch between fiat and stablecoins inside the app, using StraitsX’s enterprise-grade stablecoins designed for fast and transparent cross-border settlements.
StraitsX CEO Tianwei Liu said that combining Grab’s massive user base with StraitsX’s stablecoin network can create a payment system that is “faster, cheaper, more inclusive, and still fully compliant.” He believes the partnership can support Southeast Asia’s fast-growing digital economy by building a next-generation payment network that different countries and apps can easily connect to.
This move comes at a time when payment systems in Southeast Asia are still fragmented, and credit card fees often remain high for merchants. The companies say that their Web3-enabled system could reduce cross-border settlement costs and offer real-time payments with clear exchange rates — something the current system often struggles with.
The design connects new Web3 wallets to today’s Web2 payment rails, making it easier for merchants to adopt without having to rebuild their systems. Both sides also stressed that the project will meet anti-money laundering and counter-terror financing rules to keep the system safe.
Grab Financial head Kell Jay Lim said the company sees real potential in Web3 to improve cross-border payments while keeping the experience simple for users. He said Grab looks forward to working with StraitsX to solve long-standing payment issues for both consumers and merchants.
Both companies plan to push forward with a shared roadmap aimed at expanding adoption across key Asian markets, building a more connected digital payment world for the region.
