Grab announces launch of Web3 services in-app, teams up with payments company Circle

Singapore – Mobile technology company Grab has partnered with payments technology company Circle Internet Financial (Circle) to bring the first-ever Web3 customer experience in the country via the launch of ‘Grab Web3 Wallet’ in the Grab app. 

Through this partnership, Circle’s new Web3 Services platform is integrated into Grab’s mobile app. With this, Singapore-based users can now set up a blockchain-enabled wallet, earn rewards and collectibles, and use non-fungible token (NFT) vouchers.

Circle Web3 Services aim to help both existing Web 2.0 internet companies and new pure-play Web3 start-ups safely and easily bring the power of stablecoins, digital assets, and smart contracts to consumer and enterprise applications.

Launched as a pilot for the SG Pitstop Pack, the ‘Grab Web3 Wallet’ supports the use of these NFT vouchers at popular stores and adventures in Singapore during the F1 Singapore Grand Prix. Furthermore, the collaboration between Circle and Grab supports the Monetary Authority of Singapore’s (MAS) Project Orchid initiative as a real-world demonstration of purpose-bound money.

Jeremy Allaire, co-founder and CEO at Circle, said, “Circle is focused on partnering with global-scale consumer internet brands to bring everyday utility to users. Piloting our technology with Grab’s customers brings us closer to realising the full potential of responsible digital asset innovation.” 

Meanwhile, Dante Disparte, chief strategy officer and head of global policy at Circle, shared, “Circle is thrilled to partner with Grab to accelerate adoption of blockchain-powered innovation and support Singapore’s forward-thinking vision as a leading global hub for responsible digital asset innovation.”