The MOU outlines plans to collaborate in developing Web3 Wallets that will enable Grab users to spend across markets, while allowing any StraitsX partner wallet to transact with Grab merchants
SINGAPORE, 18 NOVEMBER 2025 – Grab and StraitsX, the stablecoin-native settlement layer driving global finance, today announced a strategic MOU to explore the development of a Web3-enabled payments infrastructure across Asia. The initiative aims to bring digital asset wallets and stablecoin settlement into everyday consumer experiences across Asia, with two core components: a Web3-connected wallet integrated within the Grab app, and a stablecoin-based payment network that supports compliant, secure, efficient clearing and settlement across participating markets.
As part of the MOU, StraitsX will support the technical development of Web3 Wallets directly within the Grab platform, with a view to enabling compliant custodial and programmable functionalities that support payment processing, clearing, and settlement via smart contracts.
The proposed collaboration will cover the regulatory and technical requirements for providing each participating merchant with a Web3-compatible wallet, integrated with existing Web2 payment rails and Web3 settlement. This proposed integration is intended to enable GrabPay merchants across major Asian markets to begin accepting stablecoin payments from both domestic and international consumers via widely used Web3 wallets, while aiming to expand their reach and preserve a familiar digital payment experience for both merchants and consumers. This collaboration will also take into account the continuously evolving nature of money-laundering and terrorism-financing typologies and ensure that such risks introduced from this integration are properly mitigated.
Through this partnership, subject to adherence to regulatory requirements, Grab users may be able to hold and transact with stablecoins such as StraitsX-issued XSGD and XUSD, which are designed for enterprise-grade, cross-border settlement, and potentially have the option to convert between fiat and other stablecoins within the app.
The new Web3-enabled payment layer aims to solve some of the region’s most entrenched inefficiencies by further enhancing connectivity across the Asia region – allowing users to transact across borders with real-time, FX-transparent cross-border settlement. Today, Southeast Asia’s payments remain costly and siloed, with merchant-card payment fees for credit cards and other payment methods significantly higher than those on real-time payment rails.
“Southeast Asia is one of the world’s fastest-growing digital economies, but payments remain fragmented and costly. By uniting Grab’s scale with StraitsX’s established stablecoin infrastructure, proven track record in market expansion, and network of partners across broader Asia, we can deliver a financial network that is faster, cheaper, more inclusive, and regulatory-compliant. This collaboration will accelerate the growth of Southeast Asia’s digital economy on an interoperable payments infrastructure of the future,” said Tianwei Liu, Co-Founder and CEO of StraitsX.
From Fragmented Systems to a Unified Network
At its foundation, the Web3-connected wallet will allow Grab users across markets to seamlessly engage with the digital asset economy. Users will be able to conduct cross-border payments and pull funds directly from existing Web3 wallets, all within a single platform. For merchants, programmable settlement features and on-chain treasury tools will offer new liquidity and capital management efficiencies.
The Web3-enabled payment network will act as a one-time integration layer, transforming a patchwork of country-specific and method-specific systems into a single, interoperable framework. This creates not just interoperability but a platform for future payments innovation: programmable wallets that enable new financial experiences for consumers, treasury tools that help merchants optimise liquidity, and financial products designed to scale responsibly within regulated environments.
“Grab sees potential for Web3 technologies to improve cross-border retail payments while providing a familiar experience for users. We look forward to working with StraitsX to bring their capabilities and expertise to bear in solving these problems for our consumers and merchants.” said Kell Jay Lim, Head of Grab Financial
Looking ahead, Grab and StraitsX will continue to advance a shared roadmap to expand adoption and interoperability across key Asian markets. The initiative will build on a common foundation for settlement and digital asset connectivity, enabling institutions, enterprises, and consumers to transact seamlessly across borders as Southeast Asia emerges as the centre of gravity where regulated digital asset innovation and real-world payments converge for the next era of global finance.