USDC

USDC stablecoin issuer Circle is embarking on a strategic partnership with Grab, Southeast Asia’s multifaceted super app for transportation, deliveries, and payments relative to Web3.Announced via a<a href="https://www.circle.com/en/pressroom/circle-and-grab-pilot-web3-experiences-in-singapore" rel="noopener noreferrer nofollow"> press release</a> published to Circle’s website on Thursday, the collaboration marks yet another step forward in realizing the promise of Web3 technology in Singapore.<h2 id="header-0">Circle’s foray into Web3</h2>Circle’s latest offering, a Web3 services platform, is set to be seamlessly integrated into the Grab app. The objective of that integration is to enhance Grab user experiences through blockchain-enabled solutions. In that way, the partnership will broaden the horizons of Grab’s already extensive service portfolio, which includes ride-hailing, food delivery, package delivery, ticket bookings, and insurance. Grab hopes that the move will propel the Singaporean super app further into the world of blockchain technology.<h2 id="header-1">Grab Web3 Wallet</h2>News that Grab was on the road towards rolling out a Web3-related product offering<a href="https://medium.com/&#64;coinness.gl/grab-turns-to-web3-with-crypto-wallet-integration-b4c34c199924" rel="noopener noreferrer nofollow"> leaked out</a> last week when Chinese crypto reporter Colin Wu tweeted out details related to a Web3 wallet. This official announcement qualifies those initial reports, as one of the key aspects of this collaboration is the introduction of the ‘Grab Web3 Wallet.’The feature, accessible to Singaporean users, enables the easy setup of a blockchain-enabled wallet. Users will have the opportunity to earn rewards in the form of digital collectibles and utilize non-fungible token (NFT) vouchers, thereby immersing themselves in the dynamic world of digital assets.To kickstart this venture, Circle’s<a href="https://www.circle.com/en/web3-services" rel="noopener noreferrer nofollow"> Web3 Services</a> will initially support the SG Pitstop Pack NFT vouchers. These vouchers can be redeemed at popular Singapore-based stores in advance of the upcoming F1 Singapore Grand Prix. Jeremy Allaire, Co-Founder and CEO of Circle, expressed his enthusiasm for the company’s efforts in collaborating with what he termed “global-scale consumer internet brands to bring everyday utility to users.” Allaire maintains that the partnership with Grab aligns perfectly with that mission.While bringing Web3 technology into everyday use in Singapore, the partnership also lends support to the Monetary Authority of Singapore’s (MAS) Project Orchid initiative. This initiative seeks to demonstrate the real-world application of<a href="https://medium.com/&#64;coinness.gl/singaporean-regulator-proposes-framework-for-digital-money-use-dcd81e59e6a2" rel="noopener noreferrer nofollow"> Purpose Bound Money</a>. Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, expressed the company’s enthusiasm for accelerating blockchain-powered innovation alongside Grab while aligning with Singapore’s vision to be a leading global hub for responsible digital asset innovation.Circle has been steadily establishing its presence in Singapore, with notable achievements including<a href="https://medium.com/&#64;coinness.gl/circle-makes-inroads-in-singapore-with-license-award-40518c216cf" rel="noopener noreferrer nofollow"> acquiring</a> a Major Payment Institution (MPI) license from the MAS in June and opening its official office in May.In February, Circle joined forces with Tribe, the first government-supported blockchain ecosystem builder, to launch a unique training and support program aimed at nurturing and upskilling the region’s Web3 developer talent pool.Founded in 2012 in Malaysia as a ride-hailing app, Grab initially entered the scene as a competitor to Uber in the region. Over the years, it has evolved into a true “super app,” offering a myriad of services, including GrabPay (payment services), package delivery, ticket bookings, and insurance. Its user-friendly interface and comprehensive services have made it the go-to app for more than 25 million users in Southeast Asia every month.

Circle and Grab Partner to Pilot Web3 App Integration

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