Grab and StraitsX have formalized a memorandum of understanding aimed at advancing Web3-based payment infrastructure throughout Asia. The initiative centers on merging digital asset wallets and stablecoin settlement options with everyday consumer use cases, with both companies indicating that the effort is intended to support the creation of a Web3-enabled wallet within the Grab app. The plan also includes building a stablecoin-powered settlement network to support secure clearing and settlement across participating regional markets.
Under the arrangement, StraitsX is expected to provide technical expertise for the development of Grab’s Web3 wallet. The intended features include compliant custodial capabilities and programmable functions that may streamline payment processing, clearing workflows, and settlement procedures through smart contract automation.
Bridging Web2 and Web3 Systems for Merchant Adoption
The partners have indicated that the project will address technical and regulatory factors needed to equip merchants with Web3-compatible wallets. These wallets are envisioned to work alongside existing Web2 payment rails while leveraging Web3-based settlement layers. If successful, the system would allow GrabPay merchants in key Asian markets to accept stablecoin payments from both domestic shoppers and international users utilizing Web3 wallets.
The collaboration places strong emphasis on safeguarding measures for anti-money laundering and counter-terrorism financing. Both companies reportedly aim to ensure that risks associated with emerging payment technologies are carefully monitored, citing the shifting nature of financial crime patterns and the need for robust compliance mechanisms.
Should regulators approve the necessary conditions, Grab users may eventually gain access to stablecoins such as StraitsX’s XSGD and XUSD for enterprise-grade, cross-border settlement. The companies also intend to provide options for converting between fiat currencies and stablecoins directly within the Grab ecosystem.
We are pleased to announce that @GrabSG and StraitsX have formally signed a strategic Memorandum of Understanding (MOU) at the @sgfintechfest.
This MOU marks the launch of our joint initiative to explore the development of a Web3-enabled payments infrastructure across Asia,… pic.twitter.com/rgKg3r2f0F
— StraitsX (@StraitsX) November 18, 2025
Focus on Cross-Border Efficiency and Transparent FX
Kell Jay Lim, who heads Grab Financial, conveyed that the company views Web3 as a potential catalyst for more efficient cross-border retail payments while maintaining a user experience consistent with current expectations. He also noted that the collaboration is expected to tap into StraitsX’s technical strengths to help address payment-related challenges faced by consumers and merchants across the region.
Grab has stated that its upcoming Web3-powered payment layer aims to resolve long-standing inefficiencies within Asia’s fragmented payments landscape by offering a more cohesive cross-border framework. Users would be able to conduct transactions with real-time settlement and transparent foreign exchange processes, reducing friction and increasing transactional clarity.
For merchants, the integrated system is expected to introduce programmable settlement tools and on-chain treasury management features. These capabilities are designed to support improved liquidity and capital optimization. The envisioned Web3 payment network would serve as a unified integration layer, replacing country-specific and method-specific mechanisms with a single interoperable structure intended to streamline operations and reduce complexity for regional businesses.