Southeast Asian Super App “Grab” Adds Web-3 Crypto Wallet

Southeast Asia’s favourite super app! Grab has recently announced its foray into the world of Web-3 and cryptocurrency with the introduction of its Web-3 wallet. The app has 180 million users and this user base is spread across 500 cities. This in turn brings the exposure of web-3 and cryptocurrency to a massive crowd.

But, currently this feature is only available for the Singapore region. The app brings in support for the Polygon wallet and also has new guidance for the use of wallets and NFTs.

Source: X User @0xjaypeg

How does it work?

With the introduction of their very own web-3 wallet, Grab is set to revolutionize how users interact with digital assets within their ecosystem. Grab’s web-3 wallet (GrabPay) enables seamless transactions with third-party vendors using crypto tokens.

One exciting feature is the ability to store digital assets in Grab’s web-3 wallet securely. Now, you can conveniently monitor and control your digital assets right from within the Grab app.

Users can also earn rewards, making it a compelling option for those committed to Web3. Grab has also partnered with the Monetary Authority of Singapore (MAS) to offer NFT vouchers for popular restaurants and experiences in Singapore.

Users can also use NFTs to pay for taxis, food deliveries, payment services, and more through the platform.

Source: X

According to Colin Wu, who tested the Grab Web3 wallet, there is no private key, but only a PIN password and questions and answers are used to restore accounts.

He said SG Pitstop vouchers and digital collectables from SG Pitstop Pack are currently the only digital assets supported by the Web3 wallet.

Source: X

Lets wait for further updates and more expansive installations and see how users accept this new feature from Grab. Web-3 is growing exponentially and we have to wait and see how other players in the same field are going to implement this.

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