Southeast Asia's tech giant, Grab, is not just about hailing rides or ordering food anymore. With its recent foray into the web3 domain, Grab is taking its 'super app' status to another level. Ready to set up a web3 wallet or pay through NFTs? Grab's got you covered!
Imagine redeeming your favorite restaurant experience using NFT vouchers. Sounds futuristic? Grab, in collaboration with the Monetary Authority of Singapore (MAS), is pioneering the integration of NFTs in its rewards ecosystem. And that’s just the tip of the iceberg. The platform is gearing up with blockchain-based reward programs and NFT-based payment solutions.
These web3 features have made their debut in Singapore. However, wider expansion details are yet to emerge. An association with MAS isn’t new for Grab; earlier this year, they explored digital assets like central bank digital currencies and stablecoins.
Collaborating with giants like Amazon and regional financial powerhouse Fazz, Grab is introducing a unique digital asset payment system named "Purpose Bound Money."
Originating from Singapore, Grab has spread its wings across Southeast Asia, offering a myriad of services. Notably, GX Bank Bhd (GXBank), steered by Grab, is now Malaysia’s latest digital bank, having secured the nod from regulators. Backed by major players like Grab Holdings Ltd, Singtel, and a consortium including Malaysia's leading business figure, Robert Kuok, GXBank promises a new era of digital banking in the region.
