Ride-Hailing App Grab Integrates Web3 Services, Crypto Wallet

Grab, a hugely popular ride-hailing super app in Southeast Asia, has announced the integration of Web3 services to its platform.

Grab has a staggering 180 million user base, and the move could have significant repercussions for the adoption of digital assets in the region and beyond.

Grab Announces Web3 Services, Crypto Wallet

Grab is often called the “Uber of Southeast Asia” and is a dominant force in the region’s ride-sharing, food delivery, and digital payments space. Now, the super app has announced the integration of Web3 services, allowing users to win blockchain rewards, pay using NFTs, and set up their own Web3 wallet, along with a host of other features. Grab’s decision to integrate a Web3 crypto wallet could redefine how people interact with crypto in the regions where the service operates.

Grab has also announced a partnership with the Monetary Authority of Singapore to bring NFT vouchers for popular eats and experiences in the city, according to Grab app screenshots. Users will receive digital collectibles in their Web3 wallets if the vouchers are used. The NFT collectibles represent well-known landmarks in the country and can also be used to receive more rewards.

Grab currently has over 35 million monthly transacted users in the third quarter of 2023. It has operations in over 500 cities and offers services such as package delivery, food delivery, online payment services, ride-hailing, and more.

Service Currently Available In Singapore

At the moment, the service seems to be available primarily in Singapore, which is the region’s dominant financial and technological hub. The move aligns with Singapore’s reputation as a global fintech leader and suggests that the city-state could take on a greater role in serving as Grab’s testing ground for crypto integration into its services and adoption.

Chinese crypto reporter Wu Blockchain confirmed the announcement and also stated that the Grab platform currently supports the Polygon wallet. Polygon, an Ethereum scaling solution, is known for its low fees and quick transaction sp

Go to Source to See Full Article
Author: Amara Khatri

Did you like this?
Tip BTC Newswire with Cryptocurrency