In a significant move towards realizing the potential of digital asset innovation, Circle is set to pilot Web3 customer experiences in Singapore through a strategic partnership with Grab, Southeast Asia’s super app for transport, deliveries, payments, and more.
Circle’s latest offering, a new Web 3 Services platform, is slated for integration in the Grab app in the latest bid to enhance user experiences with blockchain-enabled solutions.
The partnership augments Grab’s vast array of services — including ride-hailing, food delivery, package delivery, ticket bookings, and insurance — and catapults the Singapore-based firm further into the blockchain universe. The ‘Grab Web3 Wallet,’ accessible to Singapore users, facilitates the setup of a blockchain-enabled wallet, allowing users to earn rewards collectibles and use non-fungible token (NFT) vouchers.
According to Circle, the Grab Web3 Wallet will initially support the SG Pitstop Pack NFT vouchers for use at popular Singapore-based stores and adventures during the upcoming F1 Singapore Grand Prix. Circle’s co-founder and CEO, Jeremy Allaire, expressed the company’s commitment to partner with “global-scale consumer internet brands to bring everyday utility to users,” indicating that the pilot with Grab’s customer base aligns with this mission.
This partnership also supports the Monetary Authority of Singapore’s (MAS) Project Orchid initiative, serving as a real-world demonstration of Purpose Bound Money. Circle’s Chief Strategy Officer and Head of Global Policy, Dante Disparte, emphasized the company’s excitement to accelerate blockchain-powered innovation in partnership with Grab and support Singapore’s vision to be a leading global hub for responsible digital asset innovation.
Circle’s Web3 Services aim to empower existing Web 2.0 internet companies and burgeoning Web3 startups to leverage the potency of stablecoins, digital assets, and smart contracts within consumer and enterprise applications. Circle has been steadily establishing its presence in Singapore, acquiring a Major Payment Institution License from the MAS in June 2023 and opening its official office in May of the same year.
In Feb. 2023, Circle collaborated with Tribe, Singapore’s first government-supported blockchain ecosystem builder, to launch a unique training and support program to nurture and upskill the region’s Web3 developer talent pool—this venture with Grab further bolsters Circle’s commitment…